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The week ahead

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

All trading involves risk. Losses can exceed deposits.

Week commencing 23 October

Chris Beauchamp, market analyst

It is a busy week on the corporate and economic fronts. The UK and US preliminary GDP estimates for Q3, plus flash PMIs for the eurozone and the US are highpoints. Meanwhile the ECB issues its latest rate decision.

Earnings season is in full swing in the US and UK, with tech firms in the US centre-stage, and UK banks releasing their Q3 earnings results. 

Economic reports

Week commencing 23 October

Monday

1.30pm – Chicago Fed index (September): expected to rise to 0.1 from -0.3. Markets to watch: US indices, USD crosses

3pm – eurozone consumer confidence (October, flash): expected to rise to -1 from -1.2. Markets to watch: eurozone indices, EUR crosses

Tuesday

8am – 9am – French, German eurozone mfg PMI (October, flash): these will be key for market movement, providing an early insight into the performance of key eurozone economies for the month. Markets to watch: eurozone indices, EUR crosses

2.45pm – US mfg, services PMI (October, flash): mfg expected to rise to 53.5 from 53.1, while services to fall to 54.9 from 55.3. Markets to watch: US indices, USD crosses

Wednesday

9am – German IFO (October): business climate index expected to nudge lower to 115.1 from 115.2. Market to watchs: eurozone indices, EUR crosses

9.30am – UK GDP (Q3, preliminary): growth expected to be 0.3%, in line with the previous quarter, and 1.4% from 1.5% a year earlier. Market to watch: GBP crosses

1.30pm – US durable goods orders (September): orders expected to rise 0.9% MoM from 1.7%, and 0.5% from 0.2% excluding transportation orders. Market to watchs: US indices, USD crosses

3pm – Bank of Canada decision: no change expected on policy. Market to watch: CAD crosses

3pm – US new home sales (September): sales forecast to fall 0.9% MoM, from a 3.4% drop a month earlier. Markets to watch: US indices, USD crosses

3.30pm – US EIA crude inventories (w/e 20 October): previous week saw a fall of 5.7 million barrels. Markets to watch: Brent, WTI

Thursday

7am – German GfK consumer confidence (November): expected to hold at 10.8. Market to watchs: eurozone indices, EUR crosses

12.45pm – ECB interest rate decision (1.30pm press conference): no change in policy expected, but watch for commentary surrounding any plans to taper the QE programme next year. Market to watchs: eurozone indices, EUR crosses

1.30pm – US initial jobless claims (w/e 21 October): claims forecast to rise to 236K from 222K. Market to watchs: US indices, USD crosses

3pm – US pending home sales (September): sales expected to fall 1.9% YoY, from a 2.6% drop in August. Markets to watch: US indices, USD crosses

Friday

12.30am – Japan CPI (September): prices forecast to rise 0.8% from 0.7% in August. Core CPI expected to rise 0.7%. Market to watch: JPY crosses

1.30pm – US GDP (Q3, preliminary): QoQ rate expected to be 2.6% from 3.1%. Markets to watch: US indices, USD crosses

3pm – US Michigan consumer confidence (October, final): expected to be 96, from 95.1. Markets to watch: US indices, USD crosses

Weekly view

Monday

1.30pm – Chicago Fed index (September): expected to rise to 0.1 from -0.3. Markets to watch: US indices, USD crosses

3pm – eurozone consumer confidence (October, flash): expected to rise to -1 from -1.2. Markets to watch: eurozone indices, EUR crosses

Tuesday

8am – 9am – French, German eurozone mfg PMI (October, flash): these will be key for market movement, providing an early insight into the performance of key eurozone economies for the month. Markets to watch: eurozone indices, EUR crosses

2.45pm – US mfg, services PMI (October, flash): mfg expected to rise to 53.5 from 53.1, while services to fall to 54.9 from 55.3. Markets to watch: US indices, USD crosses

Wednesday

9am – German IFO (October): business climate index expected to nudge lower to 115.1 from 115.2. Market to watchs: eurozone indices, EUR crosses

9.30am – UK GDP (Q3, preliminary): growth expected to be 0.3%, in line with the previous quarter, and 1.4% 

from 1.5% a year earlier. Market to watch: GBP crosses

1.30pm – US durable goods orders (September): orders expected to rise 0.9% MoM from 1.7%, and 0.5% from 0.2% excluding transportation orders. Market to watchs: US indices, USD crosses

3pm – Bank of Canada decision: no change expected on policy. Market to watch: CAD crosses

3pm – US new home sales (September): sales forecast to fall 0.9% MoM, from a 3.4% drop a month earlier. Markets to watch: US indices, USD crosses

3.30pm – US EIA crude inventories (w/e 20 October): previous week saw a fall of 5.7 million barrels. Markets to watch: Brent, WTI 

Thursday

7am – German GfK consumer confidence (November): expected to hold at 10.8. Market to watchs: eurozone indices, EUR crosses

12.45pm – ECB interest rate decision (1.30pm press conference): no change in policy expected, but watch for commentary surrounding any plans to taper the QE programme next year. Market to watchs: eurozone indices, EUR crosses

1.30pm – US initial jobless claims (w/e 21 October): claims forecast to rise to 236K from 222K. Market to watchs: US indices, USD crosses

3pm – US pending home sales (September): sales expected to fall 1.9% YoY, from a 2.6% drop in August. Markets to watch: US indices, USD crosses

Friday

12.30am – Japan CPI (September): prices forecast to rise 0.8% from 0.7% in August. Core CPI expected to rise 0.7%. Market to watch: JPY crosses

1.30pm – US GDP (Q3, preliminary): QoQ rate expected to be 2.6% from 3.1%. Markets to watch: US indices, USD crosses

3pm – US Michigan consumer confidence (October, final): expected to be 96, from 95.1. Markets to watch: US indices, USD crosses

Company announcements

Upcoming dividends

FTSE ex-dividend dates (26 October):

FTSE 100: ITV, Rolls-Royce, Barratt, Ferguson

FTSE 250: Coats Group, William Hill, Dechra, Galliford Try, JD Wetherspoon, Booker

Index dividend adjustments

  Monday 23 October Tuesday 24 October Wednesday 25 October Thursday 26 October Friday 27 October Monday 30 October
FTSE 100

 

 

2.7

 

 

 
Australia 200

 

 

 

0.1

 

0.3
Wall Street

 

 

 

 

   
US 500 0.06   0.03 0.01 0.20 0.09
Nasdaq 0.08       0.54 0.22
France 40            
Netherlands 25            
EU Stocks 50           0.6
China H-Shares            
Singapore Blue Chip 0.6   0.19      
Hong Kong HS50         4.0  
South Africa 40            
Italy 40            
Japan 225            

 

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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