Not much today. Not much tomorrow.

As the market just sits here, not doing much, a look at the calendar tomorrow does not look like it will light a fire either (at least on the surface).

What is expected over the next 24-hours:

  • RBAs assistant governor Debelle will speak at the International Swaps and Derivatives Association Annual Australia Conference at 6:35 PM ET/2230 GMT. Audience questions expected
  • RBAs Bullock is also expected to speak at 11 PM ET/0300 GMT at the same conference on a panel discussion titled "National digital currencies: Will they cash in?"
  • Japan machine tool orders for September (F) will be released at 2 AM ET/0600 GMT. The preliminary came in at 2.8%
  • German PPI will be released at 2 AM ET/0600 GMT. The expectations or 0.3% MoM with YoY at 3.0%.
  • UK CBI industrial orders expectations will be released at 6 AM ET/1000 GMT. The index is expected at 2 versus -1 last. Business optimism is expected at -4 versus -3
  • BOE chief economist Haldane speaks in Paris.
  • US Richmond Fed manufacturing index will be released at 10 AM ET/1400 GMT with expectations of 25 versus 29 last.
  • EU consumer confidence will be release at 10 AM ET/1400 GMT. The expectations is for -3.2 versus -2.9
  • BOE Carney will speak about artificial intelligence and the world economy at the Annual Machine Learning and the Market for Intelligence Conference at 11:20 AM ET/ 1520 GMT

The bigger economic releases don't occur until Wednesday, Thursday and Friday:


  • Bank of Canada is expected to raise rates by 25 basis points to 1.75% from 1.5%


  • ECB rate decision. No change expected, but press conference will be eyed
  • Durable goods orders in the US


  • US advance the GDP for the 3rd quarter with economists expectations of 3.4%

On the earnings calendar:

  • McDonald's
  • 3M
  • Caterpillar
  • xerox
  • Lockheed Martin
  • United Technologies
  • Harley-Davidson
  • Texas Instruments
  • Juniper networks

More important earnings will be released on Wednesday and Thursday:


  • Microsoft
  • Boeing
  • Visa
  • Ford
  • Advanced Micro Devices


  • Alphabet
  • Amazon
  • Twitter

The markets will also be eyeing the China/Hong Kong markets. They were up strong yesterday with the:

  • CSI 300 up 4.32%
  • Hang Seng index up 2.32%,
  • Shanghai composite index up 4.09% and
  • The tech heavy Shenzhen composite index up 4.9%

That is the good news. The not so good news is the YoY returns are terrible:

  • CSI 300,-18.87%
  • Hang Seng, -12.59%
  • Shanghai composite index, -19.72%
  • Shenzhen composite index, -30.20%