What you need to know before the open – 24/10
European markets were down for the first day in two weeks yesterday, slowed by the prospect of the ECB's stress test plans for Eurozone banks, due to start next month. But this morning, markets are expected to return to good health after Chinese HSBC manufacturing PMI came in at a seven month high – 50.9.
Asia / Pacific stocks: Nikkei 225 +0.42% (close) , Hang Seng -0.58%, ASX 200 +0.31% (close), Shanghai Comp -0.70%
— DailyFXTeamMember (@DailyFXTeam) October 24, 2013
opening European calls looking Perrier! -FTSE +32, DAX + 60, CAC +27
— David Buik (@truemagic68) October 24, 2013
Key events:
- The European Council meeting starts today.
- Eurozone manufacturing PMI for October at 8.28am. Expected at 51.4, up from 51.1.
- UK CBI industrial trends survey – orders for October at 11.00am. Expected at 10, up from 9.
- US initial jobless claims (Oct 18) at 1.30pm. Expected at 340,000, down from 358,000.
- US trade balance for August at 1.30pm. Expected at $39.50bn, up from $39.15bn.
- US Markit manufacturing PMI for October at 1.58pm. Expected at 52.5, down from 52.8.