Americas

The IMF and World Bank’s annual meetings take place in Bangkok next week against a backdrop of elevated energy costs, record public debt, jittery bond markets and rising interest rates. Markets will be watching a flurry of speeches by central bankers from around the world, including Fed Chair Warsh, alongside Tuesday’s release of the IMF’s updated World Economic Outlook. Meanwhile, the third-quarter US earnings season gets under way, with major lenders Citigroup, Goldman Sachs, JPMorgan Chase, Wells Fargo, Bank of America and Morgan Stanley among the first to report. Results are also due from corporate heavyweights Johnson & Johnson, UnitedHealth Group and BlackRock. On the US economic calendar, September consumer price data on Wednesday will be a key focus, offering one of the last major inflation readings before the Federal Reserve’s next policy decision. Headline CPI is expected to rise 0.6% month on month, largely reflecting higher fuel costs, while core inflation is forecast to increase by 0.2%. On a yearly basis, headline inflation is expected to accelerate to 3.6% from 3.4%, while core inflation is forecast to edge up to 2.5% from 2.4%. Investors will also assess September producer price data, with headline PPI expected to rise by a slightly faster 0.5% month-on-month and core PPI forecast to increase by 0.3%. Meanwhile, retail sales are expected to have grown by 0.3%, following a 1.2% gain in the previous month, while industrial production is forecast to rebound by 0.3%. Housing data will also be in focus, with existing home sales expected to edge down to 3.97 million from 3.98 million in August. Other releases include foreign trade prices, business inventories, the federal government’s monthly budget statement, net long-term Treasury International Capital flows, and regional manufacturing surveys from the New York Fed and the Philadelphia Fed. Elsewhere across America, Canada’s housing starts, Mexico’s industrial production, Brazil’s retail sales and business confidence, and Argentina’s inflation figures will provide fresh insights into economic momentum and price pressures across the region.

New York, NY, US

Europe

The European economic calendar is relatively light, with investors focusing on final eurozone inflation figures, which are expected to confirm that inflation accelerated to 3.8% in September. Industrial production across the bloc is forecast to rebound by 0.1%, while trade data are also due. In Germany, final inflation figures will be accompanied by wholesale price data, with prices expected to rise by a slightly slower 0.7% month-on-month. Final inflation readings are also scheduled for Spain, France and Italy. In the UK, the monthly data releases are expected to show that GDP contracted by 0.1% in August, while industrial production is also forecast to decline by 0.1%. The goods trade deficit is expected to widen. Elsewhere, investors will monitor Sweden’s unemployment rate and household consumption, as well as retail sales figures from Turkey. On the earnings front, investors will turn their attention to quarterly results from companies including LVMH and ASML Holding.

Paris, France

Asia-Pacific

In China, investors will focus on September inflation and trade data. Annual CPI inflation is expected to accelerate to 1.1% from 0.8%, partly reflecting higher energy prices. Exports and imports are forecast to rise by 25.3% and 23.5%, respectively. Other key releases include producer price inflation, expected to accelerate to 4.4%, and new yuan loans, forecast at CNY 975 billion. In Japan, attention will turn to September producer price inflation, expected to remain steady at 7.6%, and bank lending data. August machinery orders are also expected to rebound by 2.5% month-on-month. India is due to release September consumer and wholesale inflation figures, alongside trade and unemployment data. In Australia, investors will monitor September business confidence and labour market figures. The unemployment rate is expected to remain unchanged at 4.6%, while employment growth is forecast to ease slightly to 20K. Markets will also assess the minutes of the Reserve Bank of Australia’s September meeting, at which the central bank raised its cash rate by 25 basis points to 4.6%. Elsewhere in the region, Singapore and Malaysia will release GDP figures, with Singapore also publishing trade data. South Korea is also scheduled to report unemployment figures. On the corporate front, Taiwan Semiconductor Manufacturing is scheduled to report Q3 earnings next week.

Chongqing, China