1. Monday: ① Data: Germany's October IFO Business Climate Index; UK's October CBI Retail Sales Balance; US October Dallas Fed Business Activity Index; China's September Year-to-Date National Power Generation Capacity and Year-on-Year Growth Rate (TBD

2026-10-25

1. Monday: ① Data: Germany's October IFO Business Climate Index; UK's October CBI Retail Sales Balance; US October Dallas Fed Business Activity Index; China's September Year-to-Date National Power Generation Capacity and Year-on-Year Growth Rate (TBD). ② Events: The Fifth Plenary Session of the 20th Central Committee of the Communist Party of China will be held in Beijing from October 26 to 29. Taiwan Stock Exchange closed for one day. New Zealand Stock Exchange closed for one day. ③ Earnings Reports: Hong Kong Stocks - ZTE Corporation (00763.HK), WuXi AppTec (02359.HK), CITIC Securities (06030.HK); US Stocks - Verizon (VZ.N). 2. Tuesday: ① Data: US ADP employment change for the week ending October 10, September durable goods orders (month-on-month), August FHFA house price index (month-on-month), August S&P/CS 20-City Composite Home Price Index (year-on-year, unadjusted), September new home sales (annualized), October Conference Board Consumer Confidence Index, October Richmond Fed Manufacturing Index. ② Events: 900 billion yuan of 1-year Medium-term Lending Facility (MLF) matures. The 2026 Asian Industrial Technology Exhibition will be held from October 27 to 29 at the Shenzhen World Exhibition & Convention Center. Israel holds general elections. ③ Earnings Reports: Hong Kong Stocks - Fosun Pharma (02196.HK), CanSino Biologics (06185.HK); US Pre-Market - Boeing (BA.N), Coca-Cola (KO.N), UPS (UPS.N); US After-Market - SK Hynix (SKHY.O), Robinhood (HOOD.O), NXP Semiconductors (NXPI.O). 3. Wednesday: ① Data: US API crude oil inventories for the week ending October 23, EIA crude oil inventories for the week ending October 23; Australia's September unadjusted CPI year-on-year rate; New Zealand's Reserve Bank of New Zealand interest rate decision for October 28; Germany's November GfK consumer confidence index; Switzerland's October ZEW investor confidence index; Canada's central bank interest rate decision for October 28. ② Events: Reserve Bank of Australia Governor Bullock, Deputy Governor Hauser, Assistant Governors Hunt, Jones, and Kent attended a video conference of the Senate Economic Legislation Committee; UK Chancellor of the Exchequer John Healy presented his first annual budget to the UK Parliament; Bank of Canada Governor Macklem and Senior Deputy Governor Rogers held a press conference on monetary policy. ③ Earnings Reports: Hong Kong Stocks - Ping An Insurance (02318.HK), PetroChina (00857.HK); US Stocks Pre-Market - Boston Scientific (BSX.N); US Stocks After-Hours - Alphabet (GOOGL.O), Microsoft (MSFT.O). 4. Thursday: ① Data: US Federal Reserve interest rate decision (upper limit) to October 28; UK Bank of England mortgage approvals for September; Eurozone October industrial sentiment index; Eurozone October economic sentiment index; US initial jobless claims for the week ending October 24, September core PCE price index year-on-year; September personal spending month-on-month; preliminary Q3 annualized GDP growth rate; preliminary Q3 real personal consumption expenditure growth rate; preliminary Q3 core PCE price index annualized growth rate; September core PCE price index month-on-month; Eurozone ECB deposit facility rate and main refinancing rate to October 29; US EIA natural gas storage for the week ending October 23. ② Events: A new round of price adjustments for domestic refined oil products will begin; Federal Reserve Chairman Warsh holds a monetary policy press conference [simultaneous interpretation]; European Central Bank President Lagarde holds a monetary policy press conference [simultaneous interpretation]; Apple's "Pro and Tell" product experience event; Tencent's 2026 Global Digital Ecosystem Conference is held; ③ Earnings Reports: South Korean stocks - Samsung Electronics; Hong Kong stocks - China Unicom (00762.HK), BYD (01211.HK), InnoLight Technology (03308.HK), GigaDevice (03986.HK), Montage Technology (06809.HK); US pre-market stocks - Merck (MRK.N), Shell (SHEL.N), Eli Lilly (LLY.N); US after-hours stocks - Amazon (AMZN.O), Intel (INTC.O), SanDisk (SNDK.O). 5. Friday: ① Data: Japan's September unemployment rate; France's preliminary Q3 GDP annual rate; UK's October Nationwide House Price Index (MoM); France's preliminary October CPI (MoM); Switzerland's October KOF Leading Economic Indicator; Germany's October seasonally adjusted unemployment figures, October seasonally adjusted unemployment rate, and preliminary Q3 unadjusted GDP annual rate; Eurozone's preliminary Q3 GDP annual rate and September unemployment rate; Canada's August GDP (MoM); US Q3 Labor Cost Index (QQ); Germany's preliminary October CPI (MoM); US October Chicago PMI; Japan's target interest rate until October 30. ② Events: US Secretary of State Marco Rubio chairs the G20 Foreign Ministers' Meeting, ending October 31; Bank of Japan announces its interest rate decision and economic outlook report, Governor Kazuo Ueda holds a monetary policy press conference; ③ Earnings Reports: Hong Kong stocks - China Life Insurance (02628.HK), Industrial and Commercial Bank of China (01398.HK), China Southern Airlines (01055.HK), Seres (09927.HK), etc.; Japanese stocks - Kioxia's Q2 2026 earnings call. US pre-market stocks - BP (BP.N), ExxonMobil (XOM.N), Chevron (CVX.N). 6. Saturday: ① Data: US total oil rig count for the week ending October 30; China's official October manufacturing PMI; ② Events: 2028 FOMC voting member and St. Louis Fed President Musalaim speaks. 7. Sunday: ① Event: North America begins observing winter time; trading hours for financial markets and the release of economic data in the US and Canada will be delayed by one hour compared to daylight saving time. Seven OPEC+ oil-producing countries hold their monthly meeting to determine their December production policy.