European Economic News Preview: Eurozone Inflation, Current Account Data Due

Final inflation and current account data from the euro area and the treasury select committee hearing on the monetary policy report from the UK are the top events due on Tuesday.

At 2.00 am ET, foreign trade data is due from Switzerland. The trade surplus is forecast to narrow to CHF 4.25 billion in October from CHF 4.95 billion in September. At 4.00 am ET, the European Central Bank publishes the euro area current account data for September. The surplus is expected to fall to EUR 27.0 billion from EUR 31.5 billion in August. At 5.00 am ET, the Treasury Committee will question the Bank of England Governor Andrew Bailey and members of the Monetary Policy Committee. The session will focus on the November Monetary Policy Report and the decision to cut the bank rate by 25 basis points.

In the meantime, Eurostat is set to release euro area final inflation data for October. Inflation is seen at 2.0 percent in October, unchanged from the flash estimate, and up from 1.7 percent in September.