Economic calendar: PMI day!

• European indices set for higher opening

• Flash PMIs for October dominate calendar

• 5 US mega techs to report earnings this week

European index futures point to a higher opening of the cash session on the Old Continent today. Oil and other industrial commodities are trading slightly lower amid US dollar strengthening. A lot of action took place on the JPY market today as another intervention triggered a massive slump in USDJPY. However, the majority of the plunge has been recovered already.

Calendar for the day ahead is packed with releases of flash PMI indices for October. As usual, attention in Europe will be mostly on releases from France (8:15 am BST) and Germany (8:30 am BST). US release at 2:45 pm BST will also be watched closely. While today there are no top-tier US earnings releases scheduled, a number of such will come later in the week, including reports from 5 US mega-techs.

8:15 am BST - France, PMI indices for October.

• Manufacturing. Expected: 47.1. Previous: 47.7

• Services. Expected: 51.5. Previous: 52.9

8:30 am BST - Germany, PMI indices for October.

• Manufacturing. Expected: 47.0. Previous: 47.8

• Services. Expected: 44.7. Previous: 45.0

9:00 am BST - Euro area, PMI indices for October.

• Manufacturing. Expected: 47.8. Previous: 48.4

• Services. Expected: 48.2. Previous: 48.8

9:30 am BST - UK, PMI indices for October.

• Manufacturing. Expected: 48.0. Previous: 48.4

• Services. Expected: 49.0. Previous: 50.0

2:45 pm BST - US, PMI indices for October.

• Manufacturing. Expected: 51.0. Previous: 52.0

• Services. Expected: 49.2. Previous: 49.3

Key events in the later part of the week

Tuesday

• 9:00 am BST - Germany, Ifo index for October

• 3:00 pm BST - US, Conference Board index for October

• Top US earnings: 3M, Visa, General Motors, Coca-Cola, Alphabet, Microsoft,

Wednesday

• 3:00 pm BST - Bank of Canada rate decision

• 3:30 pm BST - DOE report on oil inventories

• Top US earnings: Meta Platforms, Boeing, Kraft-Heinz

Thursday

• 1:15 pm BST - ECB rate decision

• 1:30 pm BST - US, GDP report for Q3 2022

• Top US earnings: Amazon, Apple, Caterpillar, Intel

Friday

• 6:30 am BST - France, GDP report for Q3 2022

• 8:00 am BST - Spain, GDP report for Q3 2022

• 9:00 am BST - Germany, GDP report for Q3 2022

• 1:00 pm BST - Germany, CPI inflation for October

• 1:30 pm BST - US, PCE inflation for September

• Top US earnings: ExxonMobil, Chevron