Euro-zone consumer confidence has probably waned this month

The ECB may not announce any policy changes following its Governing Council monetary policy meeting (12.45 BST). After all, recent speeches from some members have suggested that they are not in a hurry to increase their support beyond existing plans. However, President Draghi is likely to reiterate concerns about the inflation outlook and risks from emerging markets and to make strong hints that the Bank may loosen policy further soon. Anything less would be a disappointment and could see the euro rise further against the dollar. We still see the ECB announcing a pick-up in the pace of its asset purchases from €60bn per month to about €80bn per month at the December meeting. (Jennifer McKeown)       

Euro-zone consumer confidence (15.00 BST) may have edged down again in October amidst uncertainty over the health of the global economy. The EC's measure fell from -6.9 in August to -7.1 in September. The index has been softening since March when it stood at -3.7 In October.

"We suspect that confidence was hit by uncertainty over the global economy, the VW scandal and euro-zone tensions over migration. The EuroStoxx equity index, a good leading indicator, also points to a slight fall. We have pencilled in a fall in the consumer confidence index to -8.0", says Capital Economics in a research note.