Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Week Ahead Economic Preview: Week Of 26 October 2020

By IHS Markit (Chris Williamson)Market OverviewOct 25, 2020 06:55
uk.investing.com/analysis/week-ahead-economic-preview-week-of-26-october-2020-200448775
Week Ahead Economic Preview: Week Of 26 October 2020
By IHS Markit (Chris Williamson)   |  Oct 25, 2020 06:55
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
  • Third quarter GDP updates include estimates for the US and Eurozone
  • Monetary policy meetings in the eurozone, Japan, Canada and Brazil
  • US earnings season and China's five-year plan

The week sees a full economic calendar including third quarter GDP estimates for the US, Eurozone, Hong Kong SAR, Taiwan and South Korea. Higher frequency data updates include US durable goods orders, housing market and trade, as well as Eurozone inflation and unemployment, plus a host of industrial production and retail sales updates across Asia.

Central bank watchers will meanwhile be kept busy with policy meetings scheduled for the euro area, Japan, Canada and Brazil.

In addition, the ever-closer US presidential election, the Brexit deadline of 31st October, the earnings season - with almost a thousand firms reporting - and China's Communist Party's Fifth Plenum mean there's unlikely to be a dull moment.

In the US, political risk remains high on the agenda ahead of 3rd November election day, but the week will also allow markets to take stock of third quarter trends both in terms of GDP and some 948 corporate earnings releases. IHS Markit expects GDP to have grown at an annualised rate of around 33%, but for the fourth quarter to see growth slacken sharply, albeit remain robust by historical standards with flash PMI numbers continuing to improve in October.

Similarly, GDP data for the Eurozone, Germany, France, Italy and Spain will inevitably show strong rebounds after the collapse seen in the second quarter, but the focus will likely rest on how the ECB's Governing Council assesses downside risks to the outlook. Flash PMI survey data showed the region falling back into contraction amid rising COVID infection rates.

In Asia, China maps out its next five-year plan and long-term economic strategy. South Korea and Taiwan are meanwhile expected to have seen GDP expand at quarterly rates of 10.5% and 6.8% respectively in the third quarter, but the Hong Kong SAR economy is expected to contract at a 7% rate. The Bank of Japan is meanwhile expected to downgrade its growth forecasts at its upcoming policy meeting. Japan's PMI data remained in contraction territory in October. China's NBS PMI data close off the month.

"Disclaimer: The intellectual property rights to these data provided herein are owned by or licensed to Markit Economics Limited. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without Markit’s prior consent. Markit shall not have any liability, duty or obligation for or relating to the content or information (“data”) contained herein, any errors, inaccuracies, omissions or delays in the data, or for any actions taken in reliance thereon.

In no event shall Markit be liable for any special, incidental, or consequential damages, arising out of the use of the data. Purchasing Managers' Index™ and PMI™ are either registered trademarks of Markit Economics Limited or licensed to Markit Economics Limited. Markit is a registered trade mark of Markit Group Limited."

Original Post

Week Ahead Economic Preview: Week Of 26 October 2020
 

Related Articles

Neil Wilson
How Do You Trade The Fed? By Neil Wilson - Jun 18, 2021

How do you trade the Fed? Not easily, is the simple answer. US has ripped higher as the Fed signalled it won’t let inflation run riot, but bonds have been pretty steady – United...

Week Ahead Economic Preview: Week Of 26 October 2020

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer:

 

Continue with Google
or
Sign up with Email