The focus today will probably be on the double appearance of the European Central Bank President Mario Draghi

•     The focus today will probably be on the double appearance of the European Central Bank President Mario Draghi

•      ECB President is expected to point out again that the Bank is ready to act more if needed

•     Chinese CPI slowed to 1.6% yoy in September from +2.0% yoy in the previous month, while the PPI fell deeper into negative territory at 1.8% yoy

•      The below consensus figures add to concerns of sluggish global growth and sustained low inflationary pressures.

•      It seems that low interest rates fail to stir economic activity and investors are becoming worried about central banks’ ability to do anything about it.

•     Today:

•      Germany: Final CPI for September

•      UK: The unemployment rate is forecast to have declined to 6.1% in August from 6.2%, and the average weekly earnings to accelerate slightly

•      US: Retail sales for September, the Empire State manufacturing survey for October and the MBA mortgage applications week ended on Oct 10

•      Two speakers scheduled today: ECB Supervisory Board Chair Daniele Nouy and BoE policy maker Martin Weale