NEW YORK, Oct. 28 (UPI) -- Several major economic reports from Brussels and Washington this week could be eclipsed by a U.S. Federal Reserve monetary policy announcement Wednesday.
The Fed's Open Market Committee concludes a two-day meeting with a policy announcement Wednesday afternoon.
While no move has been announced, investors have been focused -- even fixated -- on the central bank's $85 billion per month asset purchasing program, which is being employed to add liquidity to financial markets and suppress lending rates.
The partial government shutdown that derailed economic reports for the first three weeks of October will continue to influence markets that rely on reports to guide investment decisions. The Labor Department said last week the Employment Situation report due Nov. 1 would be postponed until Nov. 8.
The week started out with a Pending Home Sales Index from the National Association of Realtors, which said the index slipped in September for the fourth consecutive month. The Fed reported a 0.6 percent gain in industrial production in September.
The Bureau of Labor Statistics is set to release the Producer Price Index report for September Tuesday. The U.S. Census Bureau is scheduled to release September's retail report and the August business inventory report Tuesday.
The S&P/Case-Shiller Home Price Index report for August also is due Tuesday as is a Conference Board report on U.S. consumer confidence.
The European Commission is set to issue its consumer confidence report Wednesday. In the United States, Automatic Data Processing Inc. is set to release the monthly employment report for October, which covers jobs in the private sector.
The Consumer Price Index for September is set for release Wednesday by the Bureau of Labor Statistics. In the afternoon, the Fed's monetary policy decision will be announced.
Thursday includes Eurostat's Consumer Price Index for October and the monthly employment situation report.
A weekly report on first-time unemployment insurance claims in the United States is also due Thursday.
On Friday, look for the Institute of Supply Management's manufacturing report for October.
Autodata Friday is set to release October's total vehicle sales figures.