Welcome to the weekly outlook starting this Monday, October 23. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. As you’ll read below, it’s an active economic news week with releases coming from all major economies around the globe. On Friday, we also get inflation figures from the US with the Consumer Price Index for October due at 12:30 GMT.

Event: EU Market Services, Manufacturing and Composite PMI (October)

Date: Tuesday 24 October 2017 at 08:00 GMT

Markets affected: EUR/USD, EUR/GBP

Trending hashtags: #eur, #pmi

Business executives in the Eurozone manufacturing and services sectors showed confidence in the common region last month with the PMI releases by Markit Economics confidently above the 50 mark which shows confident growth. Markit Services came in at 55.8, the Markit Manufacturing PMI was 58.1 while the combined Markit PMI Composite showed an improvement on previous months with 56.7.

Event: Australia Consumer Price Index (Q3)

Date: Wednesday 25 October 2017 at 00:30 GMT

Markets affected: AUD/USD, AUD/NZD

Trending hashtags: #aud, #cpi

Important inflation data is due out for Australia on Wednesday. The aussie dollar experienced volatility last week with retail sales below expectations but then seeing the lowest unemployment rate for a number of years. The Reserve Bank of Australia will be closely following the release of the consumer price index which saw 0.2% growth in the second quarter from the first quarter and an annualised growth of 1.9%.

Event: UK Gross Domestic Product (preliminary)

Date: Wednesday 25 October 2017 at 08:30 GMT

Markets affected: GBP/USD, EUR/GBP

Trending hashtags: #gbp, #gdp

Estimates for third quarter GDP are due out for the UK. The economy grew 0.3% on a quarterly basis during the second quarter with 1.5% annualised growth. Analysts are expecting a slight improvement for the third quarter at 1.8%. With a number of challenges facing the UK economy around the Brexit negotiations, the Bank of England will be on the lookout for signals to consider tightening monetary policy again.