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European indices set for higher opening
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Eurozone Q3 GDP report due at 10:00 am GMT
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CPI data from euro area and Poland
European stock markets are set for a slightly higher opening of the European cash session. Disappointing PMI data and worrying Covid news from China did not trigger any major market moves outside of China itself. Some bigger moves can be seen on grains market with wheat prices jumping over 5%, after Russia withdrew from UN-brokered deal on Ukrainian grain exports.
The day ahead is light in terms of macroeconomic data. Traders will be offered Q3 GDP reports from Italy and eurozone but neither of those tends to produce big market moves as traders usually focus on data from Germany and France, which was already released last week. Apart from that, CPI reports for October from Poland and the eurozone will also be released. While today's calendar is light, things get more interesting later into the week with rate decisions from BoE and Fed, as well as release of US jobs data for October.
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9:00 am GMT - Italy, GDP report for Q3 2022. Expected: 0.0% QoQ. Previous: 1.1% QoQ
9:00 am GMT - Poland, CPI inflation report for October. Expected: 18.0% YoY. Previous: 17.2% YoY
10:00 am GMT - Euro area, CPI inflation for October. Expected: 10.2% YoY. Previous: 9.9% YoY
10:00 am GMT - Euro area, GDP report for Q3 2022. Expected: 0.2% QoQ. Previous: 0.8% QoQ
1:45 pm GMT - US, Chicago PMI for October. Expected: 47.0. Previous: 45.7
Top US earnings reports
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Loews Corporation (LOW.US) - before market open
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Global Payments (GPN.US) - before market oepn
Key events in the later part of the week
Tuesday
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3:30 am GMT - RBA rate decision
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2:00 pm GMT - US, manufacturing ISM for October
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8:40 pm GMT - API report on US oil inventories
Wednesday
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12:15 pm GMT - US, ADP report for October
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2:30 pm GMT - DOE report on US oil inventories
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6:00 pm GMT - FOMC rate decision
Thursday
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12:00 pm GMT - BoE rate decision
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2:00 pm GMT - US, ISM services for October
Friday
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12:30 pm GMT - US, NFP report for October
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12:30 pm GMT - Canada, jobs report for October