Markets to focus on US presidential debate, global manufacturing PMIs and China data
Investors will split their focus over the coming week between Asia and a raft of data on global PMI sector conditions, to ascertain whether economies are losing momentum.
All eyes will be on China on Monday, which will see a host of data releases covering Q3 Chinese gross domestic product (GDP) growth, readings for fixed asset investment, industrial production as well as retail sales in September.
Meanwhile, factory and services sector activity figures in the UK, Eurozone and the US on Friday will help markets gauge how various economies are faring.
With prime minister Boris Johnson’s Brexit deadline shifted, the country can go back momentarily to worrying about COVID-19, especially with the new “three-tiered traffic light system” in place for many regions including London.
However, on Friday, the PM essentially announced that Brexit talks were “over” after telling companies to prepare for an “Australian-style” deal. Downing Street also told EU chief negotiator Michel Barnier not to return to London in the week ahead.
Setting the stage in the UK, the FTSE (^FTSE) and pound face inflation data on Wednesday, with the latest figures for monthly public sector borrowing requirements on the slate.