There are no important reports scheduled for today that could significantly affect the markets. Today the attention is focused on the mid-term election in the USA and on the speeches of representatives of central banks on the old continents.

Japan Household Spending

Japan has published a report on household spending. The result of this report was not satisfactory. The current level of 2.3% was lower than expected. It was expected to drop from 5.1% to 2.7%.

This year in Japan, spending is not looking very well. They reached the level below zero several times, and the last scare was a false signal.

The monthly change in household spending is already more positive. The current score of 1.8% has increased from 1.7%. Which means that within a month there was an increase in expenses, but compared to last year, the result was negative.

Household expenditure is an important factor in building the country's economy and has a significant impact on the GDP level. The less households spend, the smaller the turnover is, which affects the number of companies. The profits of companies in such a situation can sleep. This situation will significantly affect individuals.

Observing this indicator, it can be concluded that households have started to save to a greater extent, and thus it gives a signal about the plunging situations of life in this country.

BRC Retail Sales Monitor

The value of same-store sales in BRC-member retail outlets in the U.K decreased from 1.8% to 1.2%. This is a negative result despite the fact that a decrease has been reported. this decline was 0.5% larger than expected.

This year is not the best. After the record level in February, there were declines and sales were negative for several months.

Speeches

At 9:15 CET there were speeches from the old continent. Speakers were the German Buba President Nagel, member of German Buba Wuermeling and ECB's Enria. They probably spoke at 10:00 CET. Information provided in speeches that the focus is on closing inflation and thus on raising rates.

At 10:30 CET, the SNB Gov Board Member Maechler also took the floor and thus gave instructions on Switzerland's moetary policy.

At 11:00 CET a representative of the Bank of England also took the floor. The speaker was Huw Pill. His statement may turn out to be a signal for the motoring policy, and thus it may direct the pound's (GBP) situation in the present day. He is expected to speak again at 18:00 CET.

Outside the European continent, a representative of the Reserve Bank of Australia (RBA) also spoke at 11:30 CET. The speaker was Governor Philip Lowe. As a key adviser to RBA board members, who decide short term interest rates, Lowe has considerable influence over the value of the Australian dollar. Traders scrutinize his public engagements for clues regarding future monetary policy.

EU Retail Sales

Retail sales figures from the European bloc were also published today. An improvement was expected in the monthly and in the annual shift.

As a result of retail sales, y/y growth was expected from -2.0% to -1.3%. Also in the monthly change, the projected increase from -0.3% to 0.4%.

The current readings are positive. The annual change in retail sales rose to 0.6%, and the monthly change met expectations.

The current result in such a difficult economic situation is interpreted as a slight improvement, i.e. a positive report.

Summary

• 1:30 CET Japan Household Spending
• 2:01 CET BRC Retail Sales Monitor
• 9:15 CET German Buba President Nagel Speaks
• 9:15 CET German Buba Wuermeling Speaks
• 9:15 CET ECB's Enria Speaks
• 10:30 CET SNB Gov Board Member Maechler Speaks
• 11:00 CET BoE MPC Member Pill Speaks
• 11:30 CET RBA Governor Lowe Speaks
• 12:30 CET EU Retail Sales (MoM) (Sep)
• 18:00 CET BoE MPC Member Pill Speaks

Although there were no important reports today, one should watch the following days.

Source: https://www.investing.com/economic-calendar/