To The Moon

Economic Calendar: Key Market Movers (week of 20Oct25)

Public Holidays

Singapore is closed on 20th Oct 2025 (Monday) as we join our citizens to celebrate Diwali (also known as Deepavali in Singapore). There are no holidays in the coming week for Hong Kong, China and America.

Here is wishing all a blessed “Festival of Lights”.

Market Outlook and Key Economic Indicators for the Coming Week

The following is a summary of key economic data releases anticipated in the coming week, categorised by region and topic. These indicators are likely to introduce volatility and inform policy expectations.

Inflation and Monetary Policy

• Consumer Price Index (CPI): This is projected to be the most closely watched economic indicator of the week, as it serves as a primary reference for US inflation. The outcome is expected to bring market volatility and will significantly influence the Federal Reserve’s upcoming interest rate decisions. The Core CPI month-on-month is forecasted to increase by 0.3%.

Global and Regional Economic Growth

• China Gross Domestic Product (GDP): The third-quarter GDP figures for China are scheduled for release, with a consensus forecast projecting a 4.7% growth rate.

Purchasing Managers’ Index (PMI) - Global Manufacturing and Services:

• S&P Global Manufacturing PMI will be released, serving as a key reference for global manufacturing activity.

• S&P Global Services PMI will provide insight into the demand for services.

• Any significant divergence from current forecasts in either PMI will likely affect the broader demand outlook for both manufacturing and service sectors.

Labor Market

• Initial Jobless Claims (US): The forecast for new jobless claims is 223,000, which marks an increase from the previous figure of 218,000. Fluctuations in this data point will be closely monitored for their potential impact on the Federal Reserve’s interest rate strategy.

Real Estate Market

• Existing and New Home Sales (US): September’s data for both existing home sales and new home sales will be released. These figures offer a current assessment of the health and activity levels within the American real estate sector.

Commodities

• Crude Oil Inventory: The latest crude oil inventory recorded a change of 3.524 million barrels from the prior period. Substantial changes in the upcoming inventory forecast will be a key prelude to market consumption trends and will impact the short-term supply and demand dynamics in the oil market.

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