An appearance from Bank of England Governor Mark Carney in the House of Lords is in focus in European trading hours. The central bank chief will be questioned about the consequences of the Brexit referendum and policymakers’ response to it.

The economy has proven to be somewhat more resilient than officials expected in the four months after the vote but recent worries about a “hard” break that sees the UK lose access to the EU single market have put markets on tenterhooks. The British Pound may come under pressure if Carney is pressed to expound on the policy response to such a scenario, which is very likely to beckon stimulus expansion.

Comments from ECB President Mario Draghi are also on tap and may offer another opportunity to reiterate that the central bank is not looking to taper its QE effort in the near term. The German IFO survey of business confidence is also on tap but the expected improvement is unlikely trigger a lasting response from the Euro considering such a result’s limited implications for near-term monetary policy trends.

Fed rate hike speculation will retake the spotlight later in the day as October’s US Consumer Confidencereport and comments from Atlanta Fed President Dennis Lockhart cross the wires. As it stands, the markets are pricing in a 70.9 percent probability of an interest rate hike in December. US Dollar follow-through may be limited as traders await Friday’s third-quarter GDP print before showing commitment.

Asia Session

European Session

Critical Levels