Today, the key event on the economic release calendar will be the Q3 2025 GDP report from the Eurozone. This will be the second of three readings. Expectations point to a slight increase on a quarterly basis and somewhat slower annual growth compared to the Q2 2025 figures.
Next, investors’ attention will shift across the Atlantic, where we will hear speeches from additional FOMC members — Bostic, Schmid, and Logan. Yesterday’s comments proved significant, as policymakers are beginning to signal support for pausing further rate cuts at the December Fed meeting. Currently, the probability of a rate cut stands at just 52% — down from 94% a month ago.
Detailed calendar for the day:
07:45 AM GMT, France - Inflation Data for October:
- French CPI: forecast 1.0% YoY; previous 1.2% YoY;
- French CPI: forecast 0.1% MoM; previous -1.0% MoM;
- French HICP: forecast 0.9% YoY; previous 1.1% YoY;
- French HICP: forecast 0.1% MoM; previous -1.1% MoM;
08:00 AM GMT, Spain - Inflation Data for October:
- Spanish CPI: forecast 0.7% MoM; previous -0.3% MoM;
- Spanish CPI: forecast 3.1% YoY; previous 3.0% YoY;
- Spanish HICP: forecast 0.5% MoM; previous 0.2% MoM;
- Spanish HICP: forecast 3.2% YoY; previous 3.0% YoY;
10:00 AM GMT, Euro Zone - Employment Data:
- Employment Change (Q3): forecast 0.1% QoQ; previous 0.1% QoQ;
- Employment Change (Q3): previous 0.6% YoY;
10:00 AM GMT, Euro Zone - GDP data:
- GDP (Q3): forecast 0.2% QoQ; previous 0.1% QoQ;
- GDP (Q3): forecast 1.3% YoY; previous 1.5% YoY;
10:30 AM GMT, Euro Zone - ECB's Elderson Speaks
11:00 AM GMT, Germany - German Buba Vice President Buch Speaks
12:30 PM GMT, United States - Employment Data:
- Continuing Jobless Claims: previous 1,926K;
- Jobless Claims 4-Week Avg.: previous 237.50K;
- Nonfarm Productivity (Q3): previous 3.3% QoQ;
01:30 PM GMT, Canada - Manufacturing Sales for September:
- forecast 2.8% MoM; previous -1.0% MoM;
01:30 PM GMT, Euro Zone - ECB's Elderson Speaks
01:30 PM GMT, Germany - German Buba Mauderer Speaks
02:20 PM GMT, United States - FOMC Member Bostic Speaks
03:00 PM GMT, Euro Zone - ECB's Lane Speaks
03:05 PM GMT, United States - FOMC Member Schmid Speaks
07:30 PM GMT, United States - FOMC Member Logan Speaks
08:20 PM GMT, United States - FOMC Member Bostic Speaks
DE40: European markets extend decline
BREAKING: French and Spanish inflation came in line with expectations 📌
Morning Wrap (14.11.2025)
BREAKING: USDCHF with little reaction to Swiss PPI reading
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