Eurozone’s September Unemployment Rate 6.6%, as expected (last 6.7%)
U.K.’s October Services PMI 48.8 (expected 47.5; last 50.0)
Italy’s September Unemployment Rate 7.9% (expected 7.8%; last 7.9%)
Spain’s October Unemployment change -27,000 (last 17,700)
Swiss October CPI 0.1% m/m (expected 0.2%; last -0.2%); 3.0% yr/yr (expected 3.2%; last 3.3%)
European Central Bank President Lagarde reiterated her hawkish comments, saying that a recession won’t be “sufficient” to settle inflation.
There is speculation that the British government will extend windfall taxes on energy producers, seeking more than GBP40 bln over five years.
BMW and Stellantis reported strong revenue growth for Q3.
Norges Bank raised its key rate by 25 bps to 2.50% while the Bank of England is expected to announce a 75-bps rate hike to 3.00% at 8:00 ET.