Economic calendar: US hard data in the spotlight

• PMI data from Poland and the United Kingdom

• Hard data from the US expected to show deterioration

• New ECB President, Christine Lagarde, to deliver a speech

8:00 am GMT - Poland, Manufacturing PMI for October. The Polish zloty continues has been strengthening for over a month now. Economy of Poland looks more resilient to the ongoing global slowdown but data began to deteriorate as of late. Manufacturing PMI for October is expected to tick higher to 48.1 pts (47.8 pts previously). 

9:00 am GMT - Eurozone, Manufacturing PMI for October. PMI data from the eurozone scheduled for today should not have much of a market impact as it will be the second release for October. The German reading will be released at 8:55 am GMT.

9:30 am GMT - UK, Construction PMI for October. The UK construction PMI sat deep in contraction territory in September (43.3 pts). The situation is unlikely to change in October but market consensus expects an improvement and jump to 44 pts.

3:00 pm GMT - US, Factory orders and durable goods orders for September. A pack of the “hard” US data will be released today in the afternoon. Unlike survey data, those releases show real impact of trade war on the economy. Factory orders are seen dropping 0.3% MoM in September while headline durable goods orders data is forecasted to show 1.1% MoM decline.

Central bankers’ speeches

• 8:00 am GMT - Norges Bank Governor Olsen

• 8:00 am GMT - ECB’s de Cos

• 7:30 pm GMT - ECB President Lagarde

• 10:00 pm GMT - Fed’s Daly

Major US companies reporting earnings today

• Sysco (SYY.US)

• Prudential Financial (PRU.US)

• Marriott International (MAR.US)

• Uber Technologies (UBER.US)