The upcoming key events for Tuesday include the release of final inflation figures and current account data from the euro area, alongside a Treasury Select Committee hearing on the UK Monetary Policy Report.
Early in the morning, at 2:00 am ET, Switzerland will disclose its foreign trade data. Forecasts suggest a reduction in the trade surplus, predicting a decrease to CHF 4.25 billion in October, down from CHF 4.95 billion recorded in September. Following this, at 4:00 am ET, the European Central Bank is scheduled to publish the euro area's current account data for September. Expectations are for the surplus to decline to EUR 27.0 billion from EUR 31.5 billion in the previous month. At 5:00 am ET, the Treasury Committee will engage with Bank of England Governor Andrew Bailey and members of the Monetary Policy Committee. The focus will be on discussions regarding the November Monetary Policy Report and the recently made decision to lower the bank rate by 25 basis points.
Meanwhile, Eurostat is anticipated to release the final inflation data for the euro area for October. The inflation rate is projected to hold steady at 2.0 percent, consistent with the preliminary estimate, and representing an increase from 1.7 percent in September.