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Thursday offers a full day of data releases, but the ECB rate decision and the first read of U.S. Q3 GDP will be the highlights of the day.
ECB on hold ahead of December recalibration (1245 BST)
The European Central Bank will likely leave policy unchanged Thursday, as it looks to use an accelerated program of additional gatherings through November to position itself for a possible recalibration of its tools in December.
The overall PEPP envelope will be maintained at EUR1.85 trillion and the end date will still be March 2022 -- for now at least.
Outside policy decisions, the meeting and subsequent press conference will likely be a communications challenge for President Christine Lagarde as inflation continues to rise and looks set to be more transitory that originally thought
US Q3 GDP seen slowing to 2.5% (1330 BST)
The first estimate of U.S. Q3 real GDP growth is expected to slow to 2.5% from 6.7% in Q2, as the Delta variant and supply bottlenecks slowed spending.
The Atlanta Fed's GDPNow model currently predicts real personal consumption expenditures growth at just 0.4% in the summer months. Spending and growth is expected to rebound strongly this quarter.
Speakers Thursday will include ECB President Christine Lagarde when she appears at the post-policy meeting press conference.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.