Guide to today’s important data and events

Lot of economic dockets scheduled for today, all with low to medium risks associated.

Data released so far -

• UK - BRC shop price index dropped -1.8% in October.

• Australia - Trade balance improved as imports grew 2% and exports 3%, but still in negative at $-2.371 billion.

• Japan - Markit services PMI rose to 52.2 in October from 51.4 in September. Consumer confidence rose marginally to 41.5 in October from 40.6 prior.

• China - Caixin services PMI grew to 52 in October, from 50.5 in September.

Upcoming -  

• Euro Zone - ECB governing council is holding its non-monetary policy meeting today. ECB president Draghi is scheduled to speak today at 9:00 GMT. Services PMI to be released at 9:00 GMT, followed by producer price index at 10:00 GMT.

• Spain - Services PMI to be released at 8:15 GMT. Prior 54.6, expected 55.5

• Italy - Services PMI to be released at 8:45 GMT. Prior 53.3, expected 53.6

• France - Services PMI to be released at 8:50 GMT. Prior 52.3, expected 52.3

• Germany - Services PMI to be released at 8:55 GMT. Prior 55.2, expected 55.2

• UK - Services PMI to be released at 9:30 GMT. Prior 53.3, expected 54.5

• Portugal - Unemployment rate to be released today for third quarter.

• US - MBA mortgage applications to be released at 12:00 GMT, followed by ADP employment report at 13:15 GMT and trade balance for September at 13:30 GMT. Markit services PMI will be released at 14:45 GMT, followed by ISM non-manufacturing PMI at 15:00 GMT. FED's Yellen is scheduled to speak today at 15:00 GMT, William Dudley at 19:30 GMT and Stanley Fischer at 22:00 GMT. EIA will release crude oil weekly inventory at 15:30 GMT.

• Canada - Will announce trade balance for September at 13:30 GMT.

• Australia - RBA governor Glenn Stevens scheduled to speak at 21:45 GMT, followed by deputy governor Lowe at 22:00 GMT.

• Japan - Bank of Japan will release monetary policy minutes at 23:50 GMT.

• Auction - US will auction 2 year note at 18:00 GMT.