For the week starting October 24 and ending October 28th

  1. US GDP (3Q)- Friday October 28th at 8:30 AM ET/1230 GMT. The "advanced" look at the 3Q GDP in the US will be released on Friday, Oct 28th. The expectations are for a gain of 2.5% on an annualized basis. The estimate from the Atlanta Fed is currently at 2%, while the New York Fed expects GDP to currently come out at 2.2%. Both can be revised before next week. Last quarter, the 2Q advanced reading estimate was for a gain of 2.5%. The actual number came in at 1.2% - well below estimates. The GDP numbers do get revised as estimated data in the advanced release are published). The revisions to the 2Q numbers saw GDP revised down to 1.1% and then up to 1.4%. The other thing to note about GDP is it is not a QoQ number but a quarterly number that is annualized. That differs from some other countries that highlight the changes from quarter to quarter.
  2. Australia CPI QoQ. Tuesday October 25 8:30 PM ET/0030 GMT Wednesday. The 3Q CPI is expected to rise by 0.5% while the YoY is forecast to increase by 1.1%.. The Trimmed mean QoQ change is expected to rise by 0.4% with they YoY at 1.7%. The trimmed mean is calculated as the weighted mean of the central 70% of the quarterly price change distribution of all CPI components
  3. Central Bankers speeches. Tuesday October 25th. BOE Governor Mark Carney will ttestify about the economic consequences of the Brexit vote before the House of Lords economic affairs committee. Carney's testimony is scheduled to begin 10:35 AM ET/1435 GMT. Also on Tuesday at 11:30 AM ET/1530 GMT, ECBs Mario Draghi iis due to speak about stability, equity and monetary policy at the DIW Economic Institute in Berlin. On Monday October 24, BOC Poloz is due to testify before the House of Commons standing committee on finance
  4. UK GDP QoQ. Thursday, October 27th at 4:30 AM ET/0830 GMT. The QoQ Advance GDP estimate for the 3Q will be released with expectations for a gain of 0.3% QoQ and 2.1% YoY.
  5. US Durable Goods orders. October 27th at 8:30 AM ET/1230 GMT. The US durable goods orders for the month of September are expected to rise by 0.1% (last +0.1%). Ex-transportation the expectations are for a 0.2% gain versus -0.2% last month.

Other key events/releaases

  • Other Fed speakers. Monday: Dudley (9 AM ET), Bullard (9:05 AM ET), Powell (2 PM ET)
  • US Consumer confidence, Tuesday, October 25. Estimate 101.5 versus 104.1
  • NZ Trade Balance. Wednesday, October 26, 5:45 PM ET/2145 GMT. Est -1125M vs -1265M last
  • US employment cost index, October 28th 8:30 AM ET/1230 GMT Estimate +0.6% QoQ.