Investing.com - In the week ahead, market players will be eyeing the release of Thursday’s final reading on U.S. third quarter gross domestic product for fresh indications on the strength of the economy and further hints on the future path of monetary policy.
Meanwhile, market participants will be awaiting a monetary policy announcement from the Bank of Japan on Tuesday, with most investors expecting the bank to hold its negative interest rates and 10-year government bond yield target steady.
In addition, market participants will be focusing on Monday's survey data on German business confidence to gauge sentiment in wake of the European Central Bank's decision to extended its bond-buying program longer than many had anticipated earlier this month.
In the U.K., traders will be looking ahead to a final reading on British growth data for further indications on the continued effect that the Brexit decision is having on the economy.
Elsewhere, market players will be looking to Friday’s data on Canada's gross domestic product to gauge the health of the economy.
Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.
1. U.S. Third Quarter GDP - Final Estimate
The U.S. is to release final figures on third quarter economic growth at 8:30AM ET (13:30GMT) Friday.
The data is expected to reveal that the economy expanded by 3.3% in the three months ended September 30, improving from a preliminary estimate of 3.2% and accelerating from growth of just 1.4% in the second quarter.
Reports on durable goods orders, home sales and personal spending will also be in focus, as investors attempt to gauge if the world's largest economy is strong enough to withstand further rate hikes next year.
2. BOJ Policy Announcement
The Bank of Japan's latest rate decision and monetary policy statement are due during Asian hours on Tuesday. BOJ Governor Haruhiko Kuroda will hold a press conference afterward to discuss the decision.
A Reuters poll showed on Friday that the Japanese central bank is expected to keep its negative interest rate unchanged at -0.1%, while maintaining the 10-year government bond yield target at around 0.0% as a weaker yen and positive overseas conditions augur well for Japan's economic prospects.
The poll also showed analysts expect the BOJ to maintain the net amount of Japanese government bonds it buys annually at around 80 trillion yen.
3. German IFO Business Sentiment
The Ifo German research institute is to report on German business sentiment at 09:00GMT (4:00AM ET) on Monday, with market players expecting the index to inch up to 110.7 this month, which would be the highest reading since April 2014.
The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.
4. U.K. Final Q3 GDP
The Office for National Statistics is to produce a third estimate on U.K. third quarter economic growth at 09:30GMT (4:30AM ET) on Friday.
The report is forecast to confirm the economy grew 0.5% in the July-to-September period, unchanged from a preliminary reading, indicating that the British economy shrugged off the immediate shock of the June 23 Brexit referendum.
On a year-over-year basis, the economy is forecast to grow by 2.3%, also unchanged from an initial estimate.
5. Canadian Growth Figures
Canada is to release monthly economic growth figures at 8:30AM ET (13:30GMT) Friday. The data is expected to show that the economy expanded 0.1% in October, after growing 0.3% a month earlier.
Besides the GDP report, Canada will publish data on inflation and retail sales.
Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/