The Week Ahead

Read about upcoming market-moving events and plan your trading week

Week commencing 28 October

Chris Beauchamp's insight

The Bank of Japan is expected to keep its interest rates at 0.25% while in the UK all eyes will be on the UK chancellor’s first labour budget in 14 years on Wednesday. Growth and borrowing forecasts may well have a major effect on sterling and other UK markets. Consumer confidence, flash gross domestic product (GDP) growth and inflation data will also be scrutinised ahead of Friday’s US non-farm payrolls. US earnings season will continue with the likes of Alphabet, Apple, Meta and Microsoft while in the UK bank and energy company heavyweights will be reporting on their quarterly earnings.

Economic reports

Monday
Tuesday
Wednesday
Thursday
Friday
Weekly view

None

7am – German consumer confidence (November): forecast at -21.5 versus previous reading -21.2. Markets to watch: EUR crosses

2pm – US consumer confidence (October): index forecast to rise to 99.2 from 98.7. Markets to watch: USD crosses

5am – Japan consumer confidence (October): expected at 36.7 versus previous reading 36.9. Markets to watch: JPY crosses

9am – German GDP (quarter 3 (Q3), flash): growth expected to remain at -0.1% quarter on quarter (QoQ), and rise 0.2% year-over-year (YoY). Markets to watch: EUR crosses

12.15pm – US ADP employment report (October): payrolls expected to rise by 129K, down from 143K. Markets to watch: US indices, USD crosses

12.30pm – UK Budget: Chancellor Rachel Reeves will unveil the first Labour budget in 14 years. Growth and borrowing forecasts may well have a major effect on sterling and other UK markets. Markets to watch: FTSE 100, FTSE 250, GBP crosses

12.30pm – US GDP (Q3, advance reading): QoQ rate expected to rise to 3.3% from 3%. Markets to watch: US indices, USD crosses

1pm – German consumer price index (CPI) (October): prices forecast to rise 1.8% YoY from 1.6%, and 0.1% month-over-month (MoM) from 0%. Markets to watch: EUR crosses

2.30pm – US EIA crude oil inventories (w/e 25 October): stockpiles rose by 5.47 million barrels in the previous week. Markets to watch: Brent, WTI

1.30am – China Purchasing Managers' Index (PMI) (October): manufacturing PMI to rise to 50.2 from 49.8. Non-manufacturing PMI to rise to 50.3 from 50. Markets to watch: CNH crosses

3am – Bank of Japan rate decision: rates expected to remain unchanged at 0.25%. Markets to watch: Nikkei 225, JPY crosses

10am – eurozone inflation (October, flash): prices expected to rise 1.7% MoM in October, as was case in September. Markets to watch: EUR crosses

12.30pm – US initial jobless claims (w/e 26 October), PCE price index (September): claims to rise by 228k versus 227k previous week and PCE price index expected to rise 0.1% MoM, and core PCE to rise 0.1%. Markets to watch: USD crosses

1.45pm – US Chicago PMI (October): index expected to rise to 47.5 from 46.6. Markets to watch: USD crosses

1.45am – China Caixin manufacturing PMI (October): forecast at 49.7 versus previous reading 49.3. Markets to watch: CNH crosses

12.30pm – US non-farm payrolls (October): payrolls expected to rise by 180K, from 254K a month earlier. Unemployment rate forecast to rise to 4.2% from 4.1%. Average hourly earnings expected to rise 0.3% MoM and 4% YoY, from 0.4% and 4%. Markets to watch: US indices, USD crosses

2pm – US ISM mfg PMI (October): PMI forecast to rise to 47.5 from 47.2. Markets to watch: USD crosses

Monday

None

Tuesday

7am – German consumer confidence (November): forecast at -21.5 versus previous reading -21.2. Markets to watch: EUR crosses

2pm – US consumer confidence (October): index forecast to rise to 99.2 from 98.7. Markets to watch: USD crosses

Wednesday

5am – Japan consumer confidence (October): expected at 36.7 versus previous reading 36.9. Markets to watch: JPY crosses

9am – German GDP (Q3, flash): growth expected to remain at -0.1% QoQ, and rise 0.2% YoY. Markets to watch: EUR crosses

12.15pm – US ADP employment report (October): payrolls expected to rise by 129K, down from 143K. Markets to watch: US indices, USD crosses

12.30pm – US GDP (Q3, advance reading): QoQ rate expected to rise to 3.3% from 3%. Markets to watch: US indices, USD crosses

1pm – German CPI (October): prices forecast to rise 1.8% YoY from 1.6%, and 0.1% MoM from 0%. Markets to watch: EUR crosses

2.30pm – US EIA crude oil inventories (w/e 25 October): stockpiles rose by 5.47 million barrels in the previous week. Markets to watch: Brent, WTI

Thursday

1.30am – China PMI (October): manufacturing PMI to rise to 50.2 from 49.8. Non-manufacturing PMI to rise to 50.3 from 50. Markets to watch: CNH crosses

3am – Bank of Japan rate decision: rates expected to remain unchanged at 0.25%. Markets to watch: Nikkei 225, JPY crosses

10am – eurozone inflation (October, flash): prices expected to rise 1.7% MoM in October, as was case in September. Markets to watch: EUR crosses

1.45pm – US Chicago PMI (October): index expected to rise to 47.5 from 46.6. Markets to watch: USD crosses

Friday

1.45am – China Caixin manufacturing PMI (October): forecast at 49.7 versus previous reading 49.3. Markets to watch: CNH crosses

2pm – US ISM mfg PMI (October): PMI forecast to rise to 47.5 from 47.2. Markets to watch: USD crosses

Company announcements

	Monday 28 October	Tuesday 29 October	Wednesday 30 October	Thursday 31 October	Friday 1 November
Full-year earnings			ASOS
Half/ Quarterly earnings	Ford	HSBC, BP, Pfizer, Paypal, Chipotle, Visa, Alphabet, McDonald’s	GSK, Standard Chartered, Aston Martin Lagonda, Volkswagen, Microsoft, Meta, Caterpillar	Shell, Comcast, Intel, Apple	Chevron, Exxon Mobil
Trading update*		Pearson	Computacenter, Next	Haleon, Smith & Nephew

Dividends

FTSE 100: Whitbread

FTSE 250: Balfour Beatty, Bloomsbury Publishing, Hilton Food, Dunelm, PZ Cussons, Renishaw, Tritax Big Box

Dividends are applied after the close of the previous day’s session for each market. So, for example, the FTSE 100 goes ex-dividend on a Thursday, but the adjustment is applied at the close of the previous day, e.g. Wednesday. The table below shows the days in which the adjustment is applied, not the ex-dividend days.

Index adjustments

	Monday 28 October	Tuesday 29 October	Wednesday 30 October	Thursday 31 October	Friday 1 November	Monday 4 November
FTSE 100			0.26
Australia 200					0.1
Wall Street
US 500		0.04	0.45	0.24	0.23	0.07
Nasdaq	0.21		1.64	0.68	0.28
Netherlands 25	0.23
EU Stocks 50	0.9	2.2	1.2
China H-Shares			1.2	0.5		1.4
Singapore Blue Chip
Hong Kong HS50			2.2	0.8		2.7
South Africa 40
Italy 40
Japan 225

* Please note these can change without notice

¹ Dividend adjustments due to be posted on a bank holiday will usually be posted on the previous working day

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