Markets will be steered by coronavirus infection rates and whether fresh data will show a resurgent impact of COVID-19 on the global economy.
Meanwhile, investors will also eye the politics and stimulus talks in the run up to the US presidential election.
All focus will be on the closely followed International Monetary Fund’s (IMF) World Economic Outlook report, with expectations of a modest upgrade in 2020 figures to -4.9% and +5.4% in 2021.
“While we may see a modest upgrade to the 2020 number, expect much focus on the downside risk to the 2021 figure based on second wave challenges. A concerted push for fresh fiscal stimulus from central bank speakers looks likely too,” analysts at ING said.
On Tuesday, the Organisation for Economic Co-operation and Development (OECD) will release its latest analysis of the UK economy — it could be tough reading for a government trying to address the twin challenges of coroanvirus and Brexit.
There is another “special” Apple (AAPL) event on Tuesday, the last one in September saw the tech giant delay the release of the iPhone 12 after the coronavirus pandemic slowed production. There are rumours the flagship smartphone will come in four different sizes and that Apple will release new over the head headphones.
Elsewhere: September trade balance for the second-largest economy, China is due on Tuesday. The country is the world’s largest importer of minerals so the perception of the nation’s health often influences commodity prices. Watchers will also focus on vehicle sales, credit and money supply data to assess the pace of economic recovery.
Other weekend developments markets will also digest:
UK: Brexit deal deadline, unemployment data and more COVID-19