Economic calendar: PMIs and central banks

• German PMIs to be released in the morning

• ECB expected to stay on hold today

• Riksbank, Norges Bank and CBRT to announce 

8:30 am BST - Germany, PMI indices for October. PMI indices are closely watched by investors as the are considered leading indicators. The German figures are poor to say the least and another lacklustre reading could exert some pressure on the euro and equities. Manufacturing gauge is expected to tick higher to 42 pts (41.7 pts earlier) while services index is seen coming in at 51.7 pts (51.4 pts). Data for the whole euro area will be released at 9:00 am BST.

8:30 am BST - Riksbank rate decision. The Swedish central bank is expected to leave the main rate unchanged at -0.25%. Press conference at 10:00 am BST may offer additional insight.

9:00 am BST - Norges Bank rate decision. The Norwegian central bank stood in contrast to the global trend this year as it has raised rates three times already. However, the Bank is expected to leave the main rate unchanged at 1.5%.

12:00 pm BST - CBRT rate decision. Turkish central bank is expected to lower one-week repo rate to 15.50% from 16.50%.

12:45 pm BST - ECB rate decision. The European Central Bank relaunched QE during its latest meeting and it is unlikely that major policy adjustment will be made today. QE takes time to take effect therefore European central bankers are likely to stay on hold until it happens. Apart from that, it will be the last meeting of Mario Draghi. Press conference will start at 1:30 pm BST.

1:30 pm BST - US, durable goods orders for September. Expected: -0.7% MoM (0.2% MoM previously)

2:45 pm BST - US, PMI indices for October. When it comes to the US, investors prefer ISMs over PMIs. However, PMIs are usually released earlier therefore they may offer some early insight. Manufacturing gauge is expected to slide from 51.1 pts to 50.7 pts while services index is expected to stay unchanged at 50.9 pts.

Major companies reporting earnings today

• Visa (V.US)

• Intel (INTC.US)

• Dow (DOW.US)

• Amazon.com (AMZN.US)

• America Airlines Group (AAL.US)