Here’s a quick overview of all the important events this week in the markets:
- Federal reserve Chair Janet Yellen will be speaking in front of the House Financial Services Committee on Wednesday morning as part of her biannual hearings in front of Congress. Yellen will address the Senate Banking Committee on Thursday.
- At the same time, Fed Vice Chair Stanley Fischer will give a speech tonight at the National Economists Club in Washington, D.C. this evening. Meantime, New York Fed President William Dudley will hold a press conference in New York City this afternoon.
- The ADP payrolls report showed that private employers added 182,000 jobs during October. The non-farm payrolls will be released on Friday, which is always a market mover.
- The U.S. trade deficit hit a 7-month low in September, 15% lower than August, thanks to weak crude oil prices and the lowest volume of oil imports in 10 years.
- The Bank of England’s Monetary Policy Committee will be releasing its meeting minutes from October and making an announcement on policy on Thursday morning. Most experts don’t expect any changes coming this month.
- After publishing comments about the country’s new 5-year economic plan, China’s central bank inadvertently sets off a rally in equities, as the Shanghai Composite gains 4.3% overnight.
- The most recent Purchasing Managers Index (PMI) will be released in the U.S. later this morning, following encouraging PMI readings from across the Eurozone.