In the week ahead investors will be looking ahead to the outcome of Wednesday’s Federal Reserve meeting amid expectations that it will wind up its asset purchase program. Investors will be scrutinizing the Fed statement for further indications on how soon interest rates could start to rise. Friday’s report on euro zone consumer inflation will also be in focus, amid growing expectations that the European Central Bank will have to take additional easing steps to boost the flagging euro area economy.
Monday, October 27
The Ifo Institute is to release its report on German business climate. The euro zone is to release data on M3 money supply and private loans. The U.K. is to release private sector data on retail sales. The U.S. is to publish an industry report on pending home sales.
Tuesday, October 28
Japan is to release data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The U.S. is to release data on durable goods orders and a report by the Conference Board on consumer confidence.
Wednesday, October 29
Japan is to publish preliminary data on industrial production. New Zealand is to release private sector data on business confidence. The U.K. is to report on net lending to individuals. Canada is to produce data on raw material price inflation. The Federal Reserve is to announce its federal funds rate and publish its rate statement. Later Wednesday, the Reserve Bank of New Zealand is to announce its official cash rate and publish its rate statement.
Thursday, October 30
Australia is to release a report on import prices. The U.K. is to publish private sector data on house price inflation. In the euro zone, Germany is to produce preliminary data on the consumer price index, which accounts for the majority of overall inflation. The country is also to release a report on the change in the number of people unemployed. Elsewhere in the euro area, Spain is to release preliminary data on consumer inflation and third quarter GDP. Switzerland is to publish its KOF economic barometer. The U.S. is to publish revised data on third quarter GDP, as well as the weekly report on initial jobless claims. Later in the day, Fed Chair Janet Yellen is to speak at an event in Washington; her comments will be closely watched.
Friday, October 31
New Zealand is to release data on building consents. Japan is to release reports on household spending and the consumer price index. Meanwhile, the Bank of Japan is to announce its monetary policy decision and publish its rate statement. The bank is also to hold a post-policy meeting press conference. The euro zone is to release what will be closely watched preliminary data on consumer inflation, as well as a report on the unemployment rate. In addition, Germany is to report on retail sales, while France is to publish data on consumer spending. Canada is to publish its monthly report on GDP growth. The U.S. is to round up the week with data on personal income and expenditure as well as revised data on consumer sentiment and a report on business activity in the Chicago region.