news that dominate the market

US earnings, Brexit, central bank meetings from US and more will dominate the market.

US earnings, Brexit, central bank meetings from US, Japan and Canada, US jobs report, preliminary GDP data for Q3 in US and Eurozone, US personal income and spending figures, the core PCE price index and Eurozone inflation will dominate the market.

In US, the Fed is widely expected to reduce its benchmark interest rate for the third consecutive time this year on Wednesday. Thus, the market reaction will depend mostly on the signals policymakers send about the likelihood of future action, not on the rate cut itself. Nonfarm payrolls are forecast at 90K, less than the 136k in September. The unemployment rate is expected to tick up to 3.6%, while wage growth is expected to move higher to 3% y/y.

US GDP set to show the economy cooled sharply in Q3 – growth of 1.6%, down from 2% in Q2, is forecast.

Bank of Japan is expected to keep its policy unchanged, or else to make only a relatively minor adjustment, despite hinting at its last meeting that it might take action this time around.

Bank of Canada is also expected to keep rates on hold thanks to a robust economy.

On the corporate front, Q3 earnings season continues in full pace in US and Europe with several companies releasing their earning results, including Apple, Alphabet, Facebook, Kraft Heinz, AT&T, Mastercard, Merck&Co, Pfizer, Starbucks, Chevron, AbbVie, ExxonMobil, ConocoPhillips, Airbus, Credit Suisse, Deutsche Bank, HSBC, Standard Chartered Lloyds, BP and Royal Dutch Shell among others.

 

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