Week Ahead-Japan's election, BOJ, US jobs, UK budget lead
Oct 28 (Reuters) -It will be a hectic week full of major event risk, led by the fallout from Japan's election, the Bank of Japan policy meeting, U.S. October jobs report and UK budget, in the countdown to the Nov 5 U.S. election.
The BOJ monetary policy board meets on Wednesday-Thursday and is widely expected to hold its policy rate at 0.25% as Governor Kazuo Ueda continues to signal a patient approach to further tightening.
Japan has a busy week fordata, with unemployment, consumer confidence, industrial production and retail sales adding insights on the economy.
The U.S. Federal Reserve enters the blackout period ahead of its Nov 6-7 policy meeting, but investors will have plenty of data to sift through.The highlights include consumer confidence, ADP jobs, advance Q3 GDP, the September PCE price index, JOLTS job openings, ISM manufacturing PMI, final S&P Global manufacturing PMI, followed by the often volatile monthly jobs data on Friday. The Reuters poll forecast is for a 123,000 increasein non-farm payrolls and steady unemployment rate of 4.1% in October.
The UK facesa potentially pivotal week for markets, with the first budget from the new Labour government on Wednesday likely tobe key for yields, investors and sterling. There is no first-tier UK data due.
The euro zone calendar includes flash Q3 GDP, sentiment indices, final October consumer confidence and flash HICP.
China's official October PMIs are due on Thursday and the Caixin manufacturing PMI on Friday. Markets will also be on watch for any hints of fiscal stimulus plans ahead of the Nov 4-8 meeting of China'stop legislative body.
Australia's main release is September and Q3 CPI data on Wednesday, which will reveal whether inflation pressures are finally abating .Retail sales, housing finance and PPI data are also due. New Zealand has Q3 employment and the ANZ business survey.
In Canada, August GDP data and the October S&P Global manufacturing PMI are due, while Bank of Canada Governor Tiff Macklem participates in a fireside chat.
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Andrew Spencer is a Reuters market analyst. The views expressed are his own. Editing by Sonali Desai
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