"Report": Important global economic news of this week - TOP-5

Baku. 16 October. REPORT.AZ/ The most important global economic news of this week will be announced in the United States, Eurozone, the UK and China.

Analytical Group of Report has identified the most important 5 economic news of the week that could affect the global financial market:

1) During the week, Dallas Fed President Robert Kaplan, New York Fed President William Dudley, Philadelphia Fed Head Patrick Harker, Kansas City Fed President Ester Esther George and Cleveland Fed chairman Loretta Mester will make a speech. Notably, in her speech yesterday, Federal Reserve Chair Janet Yellen announced the necessity of increasing discount rate in U.S.

2) U.S. Treasury Department will announce the number of new buildings and permits of September on October 18 at 16:30 pm Baku time. According to the Consensus forecast, this indicator expected to drop by 2.9% to 1.174 mln units in September. This week, key economic indicators that will seriously affect U.S. financial markets will not be disclosed. The focus will be on disclosure of the new tax reform package;

3) The European Central Bank (ECB) head Mario Draghi is expected to speak at the opening of the ECB conference in Frankfurt on October 18 at 11:10. In this speech investors will follow up disclosures about how much the monetary expansions will begin to decline in what size and date;

4) UK inflation forecast for September 17 will be announced. Analysts believe inflation to rise to 3%, which is the maximum limit of the last 5 years. If so, the prospect of increasing the UK Central Bank's rate will increase and this will soar the exchange rate of pound sterling;

5) China's third quarter GDP indicator will be announced on October 19 at 06:00. Experts predict that GDP will grow by 6.8%. In addition to this figure, the volume of industrial production, capital investments and retail sales will be announced in September. The congress of the Chinese Communist Party will be held on October 18. Investors will be closely watching decisions taken at this event held every 5 years.