Global Weekly Economic Preview: Markets brace for US Elections, inflation data and rate decisions
This week promises a busy stretch for global markets, with the US midterm elections, crucial employment data and a wave of central bank decisions set to shape investor sentiment. Persistent energy-driven inflation risks and geopolitical tensions in the Middle East and Ukraine will remain key concerns, while the OPEC meeting could offer fresh clues on the global oil supply outlook. Corporate earnings from major technology and consumer companies will add to the action, alongside Eurozone inflation figures and China’s latest business activity surveys. From Washington’s political battleground to central bank policy rooms across Europe and Asia, investors face a packed calendar of potential market-moving developments.
US: The US midterm elections on November 3 will take centre stage, with the results potentially reshaping President Donald Trump’s policy agenda. Investors will also look to the monthly jobs report, ISM manufacturing and services PMIs, JOLTS job openings and consumer sentiment for fresh clues on economic strength and the Federal Reserve’s policy outlook. Trade figures and the Treasury’s quarterly refunding announcement will also be monitored. In Canada, employment data, trade figures and the federal budget will be in focus, while Brazil and Mexico will announce monetary policy decisions. On the earnings front, Apple, AMD, Qualcomm, Uber, McDonald’s and Berkshire Hathaway are among the major names reporting.
Europe: The Bank of England’s interest rate decision will headline Europe’s calendar, with investors assessing how policymakers respond to renewed inflationary pressures linked to higher energy costs. Eurozone inflation will be another major focus, alongside retail sales, factory orders and industrial production across the region’s largest economies. Germany’s industrial data and Spain’s labour market figures will offer further insight into regional economic resilience, while Sweden, Norway and Poland will also announce policy decisions. Corporate earnings from BMW, Ferrari, Bayer, Deutsche Telekom, Commerzbank and Ryanair will round out a busy week.
Asia: China’s October manufacturing and services PMIs will provide a fresh reading on industrial momentum and domestic demand. In Japan, wage data, final PMI figures and minutes from the Bank of Japan’s September meeting will be scrutinised for clues on the interest rate outlook. Australia’s Reserve Bank is widely expected to raise rates by 25 basis points amid persistent inflationary pressures, with building approvals, household spending and trade figures also due. Elsewhere, inflation, GDP, trade and PMI releases across South Korea, Indonesia, Vietnam, Thailand, Taiwan and other regional economies will help gauge Asia’s growth trajectory. Bank Negara Malaysia’s policy decision and earnings from Nintendo, Mitsubishi, Sumitomo and State Bank of India will also attract attention.
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