On Monday 28th: Nothing
On Tuesday 29th: German GfK Consumer Confidence and American JOLTs Job Openings
On Wednesday 30th: Australian Monthly CPI Indicator, Japanese Consumer Confidence, French GDP Growth Rate YoY Prel, German GDP Growth Rate YoY Flash, European GDP Growth Rate YoY Flash, American GDP Growth Rate QoQ Adv and German Inflation Rate YoY Prel
On Thursday 31th: Chinese NBS Manufacturing PMI, Japanese BoJ Interest Rate Decision, French Inflation Rate YoY Prel, European Inflation Rate YoY Flash, American Core PCE Price Index MoM, American Personal Income MoM and American Personal Spending MoM
On Friday 1st: Chinese Caixin Manufacturing PMI, American Non Farm Payrolls, American Unemployment Rate and American ISM Manufacturing PMI
Monday 28th of October
Nothing
Major Earnings Releases:
● Galp Energia
● Ford Motor
● KONINKLIJKE
● Swiss Re
● RECKITT BENCKISER
Tuesday 29th of October
The German GfK Consumer Climate Indicator increased to -21.2 in September 2024, up from a slightly revised -21.9 in August. Market participants will closely monitor the German GfK Consumer Confidence for November, which is scheduled to be released at 6:00 AM GMT.
The number of job openings in the United States increased by 329,000 in August 2024 to 8.040 million, surpassing market expectations of 7.655 million. This marked an upward revision from the previously reported 7.711 million in July. Market analysts anticipate that American JOLTs Job Openings for September will continue to rise, reaching 8.4 million, with the data set to be released at 2:00 PM GMT.
Major Earnings Releases:
● Moncler
● BP
● MCDONALDS
● Saint-Gobain
● Adidas
● Deutsche Lufthansa
● Ferrovial
● Novartis
● HSBC
● Chipotle Mexican Grill
● First Solar
● PayPal
● 3M
● PFIZER
● AMD
● Electronic Arts
● Super Micro Computer Inc
Wednesday 30th of October
The annual inflation rate in Australia eased to 2.7% in August 2024, down from 3.5% in July and below market forecasts of 2.8%. This marked the lowest inflation rate since August 2021. It also marked the first time since 2021 that inflation in Australia entered the central bank's target range of 2 to 3%. Market analysts predict that the Australian Monthly CPI Indicator for September will rebound to 2.9%, with the data scheduled to be released at 12:30 AM GMT.
Consumer confidence in Japan improved in September 2024, rising to 36.9 from 36.7 in August. However, this was below market forecasts of 37.1. The latest figures represent the highest consumer morale since April. While overall sentiment improved, confidence in livelihood weakened. Market participants will closely monitor the Japanese Consumer Confidence for October, which is expected to be released at 5:00 AM GMT.
The French economy grew by 1% year-on-year in the second quarter of 2024, slightly lower than the initial estimate of 1.1% and down from the 1.5% growth in the previous quarter. Market analysts anticipate that the French GDP Growth Rate YoY Prel for Q3 will decline to 0.7%, with the data scheduled to be released at 6:30 AM GMT.
The German economy stagnated at 0% in the second quarter of 2024. Market participants will closely monitor the German GDP Growth Rate YoY Flash for Q3, which is expected to be released at 9:00 AM GMT.
The Eurozone economy expanded by 0.20% in the second quarter of 2024 compared to the previous quarter. Market analysts predict that the European GDP Growth Rate YoY Flash for Q3 will increase to 1%, with the data scheduled to be released at 10:00 AM GMT.
The US economy maintained its growth momentum in the second quarter of 2024, expanding at an annualized rate of 3%. This figure remained unchanged from the previous estimate and surpassed the initial projection of 1.6% growth in the first quarter.
While consumer spending slowed slightly from its initial estimate, the economy benefited from increased private inventory investment, federal government spending, and imports. However, nonresidential fixed investment and exports experienced downward revisions.
Market analysts expect the US economy to continue its growth trajectory, with the American GDP Growth Rate QoQ Adv for Q3 projected to increase to 3.2%. The data is scheduled to be released at 12:30 PM GMT.
The annual inflation rate in Germany slowed to 1.6% in September 2024, down from 1.9% in August. This marked the lowest level since February 2021, primarily due to a renewed decline in goods prices. Services inflation eased to 3.8% from 3.9%. Market participants expect the German Inflation Rate YoY Prel for October to rebound to 1.8%, with the data scheduled to be released at 1:00 PM GMT.
Major Earnings Releases:
● GLENCORE
● Gold Resource
● Ubisoft Entertainment
● Airbus
● SCHNEIDER ELECTRIC
● BioMerieux
● Cap Gemini
● BASF
● Volkswagen
● Jeronimo Martins
● Banco Comercial
● EDP Renovaveis
● NOS
● Banco Santander
● Endesa
● AENA
● UBS Group
● GLAXOSMITHKLINE
● Western Union
● Abbvie
● Mondelez
● Norwegian Cruise Line
● BOEING
● Cognizant Technology Solutions
● Kraft Heinz
● Robinhood
● META
● Amgen
● Eli Lilly & Co
Thursday 31th of October
The Chinese manufacturing sector continued to contract in September 2024, but at a slower pace than in previous months. The official NBS Manufacturing PMI rose to 49.8, up from August's low of 49.1. While this still indicates contraction, it marks the smallest decline in the past five months. Despite the slight improvement, market analysts predict a further marginal decrease to 49.6 in October when the data is released at 1:30 AM GMT.
The Bank of Japan (BoJ) held its key short-term interest rate steady at around 0.25% during its September meeting. This decision marked a continuation of the central bank's cautious approach, following two rate hikes earlier in the year. The BoJ acknowledged the need for further observation of financial markets, particularly given the differing perspectives among its board members.
Despite some areas of weakness in the Japanese economy, the central bank maintained its assessment of a moderate recovery. Private consumption has been on an upward trajectory, supported by improved corporate profits and business spending.
While inflation has been hovering between 2.5% and 3.0%, driven by higher service prices, inflation expectations have shown a moderate increase. The underlying CPI is projected to rise gradually.
Market participants anticipate that the BoJ will maintain the status quo on interest rates at the upcoming decision, which is scheduled to be released at 3:00 AM GMT.
The annual inflation rate in France fell to 1.1% in September 2024, down from 1.8% in August. It was revised lower from 1.2% and marked the lowest level since March 2021. Market participants will closely monitor the French Inflation Rate YoY Prel for October, which is expected to be released at 7:45 AM GMT.
The annual inflation rate in the Euro Area was revised downward to 1.7% in September 2024, from 1.8% and 2.2% in August. This represents the lowest level since April 2021 and is below the ECB's target of 2%. Market participants will follow the European Inflation Rate YoY Flash for October, which is scheduled to be released at 10:00 AM GMT.
The US core PCE price index increased by 0.1% in August 2024, after a 0.2% increase in July. This slowdown aligns with the Federal Reserve's view that inflation is moderating in the US economy. Market analysts predict that the American Core PCE Price Index MoM for September will decrease to -0.1%, with the data scheduled to be released at 12:30 PM GMT.
US personal income rose by 0.2% in August 2024 to $24.015 trillion, following a 0.3% rise in July. This was slightly below market forecasts of a 0.4% increase. Market participants anticipate that American Personal Income MoM for September will be unchanged at 0.2%, with the data scheduled to be released at 12:30 PM GMT.
Personal spending in the United States rose by 0.2% in August 2024, down from a 0.5% increase in July. This marked the smallest increase since January. Market analysts predict that American Personal Spending MoM for September will decline to 0.1%, with the data scheduled to be released at 12:30 PM GMT.
Major Earnings Releases:
● Stellantis
● BRITISH AMERICAN TOBACCO
● Anheuser-Busch InBev
● BNP Paribas
● Total
● GLE
● Intesa Sanpaolo
● Prysmian
● ING GROEP
● CTT CORREIOS PORT
● Repsol
● CaixaBank
● Banco de Sabadell
● Banco Bilbao Vizcaya Argentaria
● SHELL
● INTEL
● Starbucks
● AIG
● Altria
● APPLE
● Booking
● ConocoPhillips
● Moderna
● Regeneron Pharmaceuticals
● Rockwell Automation
● Fortinet
Friday 1st of November
The Caixin China General Manufacturing PMI declined to 49.3 in September 2024, down from 50.4 in August and missing market forecasts of 50.5. This marked the lowest level since July 2023, indicating a renewed downturn in new orders, which reached their lowest point in two years. Foreign sales also experienced the sharpest decline in 13 months due to subdued market conditions. Employment shrank, and backlogs of work fell for the first time in seven months. Purchasing levels dropped amid reduced new work inflows.
Despite these challenges, output rose marginally, although at the slowest pace in the current sequence of growth. Delivery times lengthened slightly. Input prices fell at the fastest pace in 15 months due to lower raw material costs, while output prices shrank at the fastest pace in six months as businesses sought to boost sales amid intensified competition. Business sentiment deteriorated to its second-lowest level on record. Market participants anticipate that the Chinese Caixin Manufacturing PMI for October will remain relatively unchanged at 49.6, with the data scheduled to be released at 1:45 AM GMT.
The US economy added a robust 254,000 jobs in September 2024, significantly exceeding market expectations of 140,000 and the upwardly revised 159,000 jobs added in August. This marked the strongest job growth in six months and surpassed the average monthly gain of 203,000 over the previous 12 months. The unemployment rate in the United States fell to 4.1% in September, down from 4.2% in August and defying market expectations of a steady rate. This marked the lowest unemployment rate in three months. Market participants predict that American Non Farm Payrolls for October will decline to 180,000, and the American Unemployment Rate for October will increase to 4.2%, with the data scheduled to be released at 12:30 PM GMT.
The ISM Manufacturing PMI remained unchanged at 47.2 in September 2024, slightly below market expectations of 47.5. This reading continued to indicate a contraction in the manufacturing sector, which has now persisted for six consecutive months. Market participants anticipate that the American ISM Manufacturing PMI for October will see a slight improvement to 47.5, with the data scheduled to be released at 2:00 PM GMT.
Major Earnings Releases:
● Nomura
● EXXON MOBIL
● CHEVRON
● Dominion Energy
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