Investors will also keep an eye on U.S. housing data to assess what the impact of Category 4 hurricanes hitting the southern U.S. last month was on economic activity.
Elsewhere, China is to release what will be closely watched third-quarter growth data amid recent signs that momentum in the world's second largest economy remains strong.
In the U.K., traders will focus on consumer price inflation data to gauge how it will impact the Bank of England's view on monetary policy in the coming months.
Meanwhile, market players will focus on remarks from European Central Bank President Mario Draghi for fresh clues on when the central bank will shift away from its ultra-easy policy.
UK Inflation Figures - Tuesday, 11:30
The UK Office for National Statistics will release data on consumer price inflation for September on Tuesday. Analysts expect annual CPI to reach a five-year high of 3.0% from 2.9% a month earlier, which would further support the case for an interest rate hike by the Bank of England. BoE Governor Mark Carney is scheduled to testify before the Treasury Select Committee in London shortly after the release of the CPI data.
ECB President Mario Draghi Speaks - Wednesday, 11:10
European Central Bank President Mario Draghi is due to deliver opening remarks at the European Central Bank's conference in Frankfurt on Wednesday. Investors will be eager to get further insight as to what decision to expect from the ECB with regards to asset purchases and forward guidance. Draghi indicated last month that the ECB could start tapering its massive stimulus program as early as October. The central bank's next meeting is scheduled for Oct. 26.
U.S. Housing Data - Wednesday, 15:30
The Commerce Department is to publish a report on building permits and housing starts for September on Wednesday. The data is expected to show that permits fell 2.9% to 1.245 million last month, while housing starts are forecast to show a decline of 0.5% to 1.174 million, as hurricanes Harvey, Irma and Maria all took a toll on construction activity.
China Q3 GDP - Thursday, 05:00
China is scheduled to release data on third-quarter gross domestic product on Thursday. The report is expected to show the world's second largest economy grew 6.8% in the three months ended September 30, easing slightly from the previous quarter's pace of 6.9%.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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