Economic Events and Corporate Reports - October 29, 2025: Fed Meeting, Bank of Canada Rate, Inflation in Russia

Detailed Overview of Economic Events and Corporate Reports for October 29, 2025. Federal Reserve Meeting, Bank of Canada Decision, Inflation Data in Russia and Australia, US-China Trade Talks, and Results from Companies in the US, Europe, Asia, and Russia.

Wednesday shapes a rich agenda for investors: in Asia, the focus is on the release of the Consumer Price Index (CPI) for Australia for Q3, while the Hong Kong Stock Exchange is closed for the Chung Yeung Festival. In Europe, trading in Turkey is suspended in connection with Republic Day, and market sentiment will largely depend on global factors. The main event of the day will be the US Federal Reserve meeting—its outcomes will set the tone for the S&P 500 and other risk assets. Other notable events include the Bank of Canada's decision on interest rates, fresh data on US external trade and real estate, a speech by the Governor of the Central Bank of Russia, Elvira Nabiullina, and weekly oil statistics. On the corporate front, there’s a dense stream of reporting: in the US, tech giants and the industrial sector will report; in Europe, attention is drawn to releases from Adidas and GSK; in Asia, results from Samsung and major Japanese companies; and in Russia, the report from Yandex. It is crucial for investors to evaluate these events collectively: signals from central banks ↔ bond yields ↔ currency exchange rates ↔ commodity prices ↔ risk appetite in the markets.

Macroeconomic Calendar (MST)

1. All day—Hong Kong: Holiday (Chung Yeung Festival, exchange closed).
2. All day—Turkey: Holiday (Republic Day, exchange closed).
3. 03:30—Australia: Consumer Price Index (CPI) for Q3 2025.
4. ~12:00—Russia: Speech by the Central Bank head Elvira Nabiullina at the Federation Council.
5. 15:30—US: Trade Balance for September (preliminary data).
6. 16:45—Canada: Bank of Canada's decision on the key interest rate.
7. 17:00—US: Pending Home Sales Index for September.
8. 17:30—Canada: Bank of Canada press conference.
9. 17:30—US: Crude oil inventories per EIA (weekly statistics).
10. 19:00—Russia: Operational data on inflation (CPI, % year-on-year).
11. 21:00—US: FOMC Meeting (final decision on the Fed rate).
12. 21:30—US: Press conference by the Fed chair following the meeting.

Geopolitics: US-China Trade Talks

• Washington and Beijing are holding ministerial-level trade talks. The focus is on easing tariff restrictions, technology exports, and raw material supplies. Any signs of progress (for example, agreements on rare earth metals or agricultural imports) will support the global stock market, particularly industrial and technology companies. Conversely, a lack of breakthroughs will maintain investor caution towards risk assets.

Australia: CPI Index and RBA Policy

• Inflation in Australia for Q3 is expected to accelerate to around 3% year-on-year (up from 2.1% in Q2) against the backdrop of rising fuel costs and various services. This outcome may heighten the Reserve Bank of Australia's caution. Although the current level is close to the target range, exceeding the forecast (for example, a high quarterly price increase) would increase the likelihood of maintaining a hawkish RBA stance or even an additional rate hike. This will influence the Australian dollar and sentiment in Asian markets.

Russia: Inflation and Central Bank Signals

• Operational data on consumer inflation in Russia will show how sustainably price growth is slowing after a recent spike. The annual CPI remains elevated (in double digits), but a downward trend would be seen by investors as confirmation of the correctness of the Central Bank of Russia's recent series of rate cuts. Conversely, an unexpected rise in inflation could heighten pressure on the ruble and OFZ bonds.
• Elvira Nabiullina will speak at the Federation Council, where she is likely to emphasize the Central Bank's readiness to continue its cautious easing policy. In the comments from the Central Bank head, investors seek hints at the future trajectory of rates: a slowdown in domestic demand and the depletion of pro-inflation factors (fuel, harvest) could argue in favor of rate reductions in the future. Any signals in Nabiullina’s speech will affect expectations regarding the ruble and the banking sector.

Oil: EIA Inventory Data

• The US Department of Energy (EIA) report on commercial oil and petroleum product inventories will provide a short-term benchmark for the energy resources market. Changes in inventories are expected to be moderate; for example, a reduction in crude oil inventories would indicate strong demand and support prices, while an unexpected increase could trigger a correction in oil quotes. Investors in the oil and gas sector should closely monitor this publication, as oil price volatility will impact the shares of energy companies and commodity-related currencies.

US Federal Reserve Meeting

• The Federal Reserve concludes its meeting with the market not expecting significant changes in the interest rate (the current range is close to the peak of the current tightening cycle). The main intrigue lies in the rhetoric of the accompanying statement and comments from Jerome Powell. If the Fed acknowledges the slowdown in inflation and the economy, it may signal a pause or even the soon start of a rate-cutting cycle, supporting stocks and bonds. However, an emphasis on persistently high inflation and a willingness to keep rates elevated longer than expected may raise Treasury yields and create pressure on the high-tech sector.
• What to watch for: the Fed's assessment of the labor market and consumption, the balance of votes in the Committee (whether the position was unanimous), and any hints at future steps. Market reactions can be volatile—typically, the S&P 500 and Nasdaq indices, as well as the dollar and gold prices, experience sharp movements in the minutes following the announcement of the decision and during Powell's address.

Bank of Canada Decision

• The Bank of Canada will announce its interest rate decision: the consensus expects the key rate to remain at the current level, considering the stabilization of inflation close to the target of 2%. The accompanying statement will be even more important—if the regulator indicates risks of an overheating economy or, on the contrary, signs of a slowdown, it will impact the Canadian dollar (CAD) and Canadian bond yields. Investors should pay attention to the tone of communication: signs of a ‘hawkish’ approach (concerns about price pressures) could push the CAD upwards, while a more ‘dovish’ rhetoric about the necessity to support growth will have the opposite effect.

Corporate Reports: Before Market Open (BMO, US, Europe, and Asia)

• Boeing (BA)—aerospace giant (Dow Jones). In focus: recovery of aircraft production and deliveries, meeting plans for increased 737 MAX output, and free cash flow. Investors will evaluate the dynamics of the new order book against the backdrop of rising demand for air travel and defense contracts.
• Verizon (VZ)—telecom (S&P 500). Key metrics: subscriber growth and churn rate in a saturated mobile market, development of 5G services, and revenue from new services. Management’s comments on pricing competition and dividend forecast amid the high debt load in the sector are also critical.
• Samsung Electronics—South Korea, one of the leaders in the KOSPI index. The profitability of the semiconductor division amid a recovery in memory prices and demand for AI chips, as well as sales of Galaxy smartphones, is important. Samsung's report will set the tone for the entire Asian tech sector and influence the Nikkei 225 index through supply chains.
• Keyence Corp (6861.T)—Japan, high-tech company (Nikkei 225). The manufacturer of sensors and automation systems reported for the half-year. Focus areas: revenue growth in global industrial markets, operating margin, and currency effect. Keyence's results serve as a barometer for global demand for industrial automation.
• Adidas (ADS)—Germany, leading consumer sector company (DAX, Euro Stoxx 50). The Q3 report will show sales dynamics of sports apparel and footwear. Investors are looking at revenue recovery in China, North America, and Europe, inventory levels, and profitability—especially against the backdrop of currency fluctuations and raw material prices.
• GSK (GSK)—UK, pharmaceuticals (FTSE 100). In the quarterly report, key pharmaceutical sales (e.g., Shingrix vaccine and new products in the portfolio) and updated forecasts for the year are crucial. The market will also assess comments on the progress of new drug development and the impact of price pressure on margins. GSK's release will set the tone for the European pharma sector.
• Yandex (YNDX)—Russia, IT giant (MOEX non-index). The company will present IFRS results for Q3: focusing on advertising revenue dynamics in the search business segment, growth of e-commerce and taxi services, and operational profitability after the asset split. Investors in the Russian tech sector expect signals from Yandex about business recovery and prospects for corporate restructuring.

Corporate Reports: After Market Close (AMC, US)

• Meta (META)—US, internet sector (FAANG). Key metrics: revenue growth from advertising on Facebook, Instagram, and WhatsApp, audience size and engagement (MAU/DAU), and spending on metaverse development and AI infrastructure. Meta's results will set the tone for the entire NASDAQ tech sector; management's forecast on revenue amid slowing economic growth and advertising competition is particularly important.
• Alphabet (GOOGL)—US, tech holding (FAANG). Focus areas: revenue from Google search and advertising (Google Services segment) and further growth of Google Cloud's business. Investors are also keeping an eye on comments about the implementation of generative AI in the company's products and cost control. A strong report from Alphabet could support the Nasdaq and S&P 500, whereas weak results, especially regarding the cloud, could trigger sell-offs in the sector.
• eBay (EBAY)—US, e-commerce platform. Metrics: gross merchandise volume (GMV) on the platform, number of active buyers and sellers, average transaction value. The market will assess the success of monetization strategies (commissions, advertising) and forecasts for the holiday quarter. eBay's report will provide insight into the level of online consumer activity and competition with other marketplaces.
• Starbucks (SBUX)—US, consumer sector. The coffee chain will report for Q4 2025. Important metrics: comparable store sales (LFL) in key regions—primarily China and North America, where demand dynamics differ. The company’s margins are affected by raw material prices and labor costs; investors expect comments on growth strategy (new store openings, loyalty programs). Starbucks’ results reflect the state of the retail food sector and the volatility of consumer preferences.

Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX

• Euro Stoxx 50: The European market is in the midst of earnings season. As of October 29, several major issuers have already reported results that helped keep indices near multi-year highs. The Adidas report will add flavor to the consumer sector, while macro statistics from the Eurozone (preliminary GDP data, sentiment indices) form the overall backdrop. Key focus areas include the banking and industrial sectors, which are sensitive to interest rates and global trade.
• Nikkei 225: The Japanese stock market is consolidating near historic peaks (over 50,000 points for Nikkei 225 futures). The half-year earnings season is underway: strong results from high-tech companies (Keyence, NEC) and industrial corporations (Komatsu, JR Central) confirm the robust recovery of the Japanese economy. Currency fluctuations and anticipation ahead of the upcoming Bank of Japan meeting are also influencing investor sentiment.
• MOEX: The Russian stock market evaluates a combination of external factors and internal events. The MOEX index remains volatile due to oil price dynamics and global risk appetite. The Q3 corporate earnings season in Russia is gradually gaining momentum: the publication of financial results from Yandex and other major issuers in the consumer services and energy sectors provides signals for local investors. Additionally, market participants are monitoring the ruble exchange rate, which reacts to the Central Bank's decisions and geopolitical rhetoric.

Day's Summary: Key Points for Investors

• 1) US Federal Reserve: Decisions and signals from the US regulator are the main driver of global markets today. Special attention should be paid to Powell's rhetoric regarding the prospects for rates: a soft tone will boost stock prices and lower yields, while a hawkish tone may strengthen the dollar and hit high-risk assets.
• 2) US–China: News from trade talks between Washington and Beijing can shift the market balance. Progress in dialogue will support industrial metals, exporter stocks, and Asian markets, while a lack of results may increase demand for safe-haven assets (yen, franc, gold).
• 3) Oil Market: The combination of EIA inventory data and the geopolitical backdrop (Middle East, sanctions) will determine short-term price movements in oil. Investors in the oil and gas sector need to have an action plan for potential sharp price swings, which also impacts related bonds and currencies of emerging markets.
• 4) Russian Indicators: Inflation dynamics and Nabiullina's comments are guides for the local market. Any surprises (accelerated price growth or changes in the Central Bank's tone) will reflect on the ruble's exchange rate, OFZ prices, and bank stocks. It is advisable to pre-determine levels at which you are prepared to act and to use hedging tools to protect your portfolio.
• 5) Corporate Reports: A number of large companies will publish results, potentially affecting sectors locally. Before the US market opens, focus on Boeing (industry) and Verizon (telecom), and after the close—on tech giants Meta and Alphabet. Strong reports from specific leaders can shift investors' focus from macroeconomics to corporate narratives, making it essential to timely rebalance attention and positions in the portfolio.