Macroeconomic headlines are set to be dominated by US gross domestic product and payroll figures next week, while the UK’s Autumn Budget will also be in focus.
Chancellor Rachel Reeves will deliver the Budget on Wednesday, with a string of tax hikes expected alongside commitments to boost public spending.
Goldman analysts noted these could equate to an additional £25 billion in taxes and £30 billion for investment, with eyes also set to be on economic forecasts on the back of changes to UK fiscal rules.
Across the Atlantic, preliminary gross domestic product figures are also due on Wednesday for the third quarter, which IG analysts said should mirror the 3% seen over the previous period.
“This bolsters hopes of a soft landing and suggests that the Federal Reserve may take a gradual approach to easing monetary policy,” analysts added.
Non-farm payroll figures will then add further clarity around the health of the US economy on Friday, alongside unemployment data.
Anticipations are for 140,000 new jobs to have been added to the economy in October, against an expectation-beating 254,000 last time out, with unemployment remaining at 4.1%.
Elsewhere, inflation and gross domestic product figures will also feature from Europe next week, alongside data on house prices and consumer credit back in the UK.