News that will dominate the week ahead.
US earnings, Canadian election, ECB Meeting, US durable goods orders, and preliminary services and manufacturing PMI’s in Europe and US will dominate the week.
In Eurozone, ECB will announce its latest policy decision on Thursday. The ECB is widely expected to keep policy unchanged and Draghi’s press conference is more likely to focus on his tenure at the central bank than on future policy.
On the same day, the flash October PMIs will also come under the spotlight. The preliminary readings for October are forecast to show a small improvement in euro area economic activity during the month.
In US, housing figures and durable goods orders will be the main focus after some disappointing data in the past week raised fresh worries about the strength of the US economy. Durable goods orders are forecast to have dipped by 1.0% after a poor 0.2% gain in August.
Canada will go the polls on October 21 and the incumbent Liberals led by Justin Trudeau are currently marginally behind the Conservatives in the polls. However, the Liberals are projected to win slightly more seats, putting them in a strong enough position to form a minority government.
On the corporate front, Q3 earnings season continues in full pace with several companies releasing their earning results, including Amazon, Microsoft, Visa, Boeing, Ford, Tesla, UPS, Caterpillar, UBS, Barclays, McDonald’s, Procter & Gamble, Verizon, Anheuser-Busch, Halliburton, United Technologies, Chipotle Mexican Grill and Twitter among others.