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Week commencing 22 October

Chris Beauchamp, market analyst

It is another busy week, with flash purchasing managers indexes (PMIs) from around the globe, plus rate decisions from the European Central Bank (ECB) and the Bank of Canada (BoC).

Earnings season is in full swing, with dozens of US firms releasing their figures, while UK investors see quarterly updates from the banking sector and plenty of European firms thrown in for good measure too.

Economic reports

Week commencing 22 October

Monday

1.30pm – US Chicago Fed index (September): expected to fall to 0.15 from 0.18. Markets to watch: US indices, USD crosses

Tuesday

7am – German PPI (September): forecast to rise 0.2% MoM from 0.3%. Market to watch: EUR crosses

3pm – eurozone consumer confidence (October, flash): expected to rise to -2.6 from -2.9. Market to watch: EUR crosses

Wednesday

1.30am – Japan mfg PMI (October, flash): index to fall to 52.1 from 52.5. Market to watch: JPY crosses

8.15am – 9am – French, German, eurozone mfg & services PMI (October, flash): eurozone mfg reading to rise to 54.4 and services to rise to 55.1. Market to watch: EUR crosses

2.45pm – US mfg services & mfg PMI (October, flash): mfg index to hold at 55.6, while services rises to 53.9. Markets to watch: US indices, USD crosses

3pm – Bank of Canada decision: rates expected to rise to 1.75% from 1.5%. Market to watch: CAD crosses

3pm – US new home sales (September): expected to rise 0.5% MoM. Market to watch: USD crosses

3.30pm – US EIA crude inventories (w/e 19 October): stockpiles to rise by 1.9 million barrels from 6.49 million a week earlier. Markets to watch: Brent, WTI

Thursday

9am – German IFO (October): business climate index to fall to 103.6 from 103.7. Market to watch: EUR crosses

12.45pm – ECB rate decision (press conference @ 1.30pm): no change in policy expected. Market to watch: EUR crosses

1.30pm – US durable goods orders (September): forecast to fall 2.3% MoM overall, and rise 0.3% MoM excluding transportation orders. Markets to watch: US indices, USD crosses

3pm – US pending home sales (September): sales to fall 1.4% MoM. Market to watch: USD crosses

Friday

7am – German GfK consumer confidence (November): forecast to fall to 10.4 from 10.6. Market to watch: EUR crosses

1.30pm – US GDP (Q3, preliminary): growth to be 2.6% QoQ from 4.2%. Markets to watch: US indices, USD crosses

Weekly view

Monday

1.30pm – US Chicago Fed index (September): expected to fall to 0.15 from 0.18. Markets to watch: US indices, USD crosses

Tuesday

7am – German PPI (September): forecast to rise 0.2% MoM from 0.3%. Market to watch: EUR crosses

3pm – eurozone consumer confidence (October, flash): expected to rise to -2.6 from -2.9. Market to watch: EUR crosses

Wednesday

1.30am – Japan mfg PMI (October, flash): index to fall to 52.1 from 52.5. Market to watch: JPY crosses

8.15am – 9am – French, German, eurozone mfg & services PMI (October, flash): eurozone mfg reading to rise to 54.4 and services to rise to 55.1. Market to watch: EUR crosses

2.45pm – US mfg services & mfg PMI (October, flash): mfg index to hold at 55.6, while services rises to 53.9. Markets to watch: US indices, USD crosses

3pm – Bank of Canada decision: rates expected to rise to 1.75% from 1.5%. Market to watch: CAD crosses

3pm – US new home sales (September): expected to rise 0.5% MoM. Market to watch: USD crosses

3.30pm – US EIA crude inventories (w/e 19 October): stockpiles to rise by 1.9 million barrels from 6.49 million a week earlier. Markets to watch: Brent, WTI

Thursday

9am – German IFO (October): business climate index to fall to 103.6 from 103.7. Market to watch: EUR crosses

12.45pm – ECB rate decision (press conference @ 1.30pm): no change in policy expected. Market to watch: EUR crosses

1.30pm – US durable goods orders (September): forecast to fall 2.3% MoM overall, and rise 0.3% MoM excluding transportation orders. Markets to watch: US indices, USD crosses

3pm – US pending home sales (September): sales to fall 1.4% MoM. Market to watch: USD crosses

Friday

7am – German GfK consumer confidence (November): forecast to fall to 10.4 from 10.6. Market to watch: EUR crosses

1.30pm – US GDP (Q3, preliminary): growth to be 2.6% QoQ from 4.2%. Markets to watch: US indices, USD crosses

Company announcements

Upcoming dividends (25 October)

FTSE 100: ITV, Rolls-Royce, Ferguson

FTSE 250: Howden Joinery, Coats Group, William Hill, Dechra, JD Wetherspoon

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 dividend adjustments

Monday 22 October Tuesday 23 October Wednesday 24 October Thursday 25 October Friday 26 October Monday 29 October
FTSE 100

1.57

Australia 200

0.6 0.1
Wall Street

US 500 0.14 0.01

0.04

0.23
Nasdaq 0.10 0.65
France 40
Netherlands 25
EU Stocks 50
China H-Shares 1.6
Singapore Blue Chip 0.09 0.08
Hong Kong HS50 3.6
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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