Investing.com - In the week ahead, market players will be turning their attention to fresh comments from Federal Reserve Chair Janet Yellen as expectations start to grow for a December rate hike.
Meanwhile, investors will be focusing on a pair of speeches from European Central Bank President Mario Draghi for fresh hints on whether the ECB will step up monetary stimulus in the coming months to boost inflation and prop up the economy.
In addition, remarks by Bank of Japan Governor Haruhiko Kuroda will be eyed in wake of last week's decision by the BOJ to modify its policy framework.
Elsewhere, oil traders will be awaiting the outcome of the Organization of Petroleum Exporting Countries get-together on Wednesday to see whether a deal can be reached to limit production.
Another big event for markets could be the first U.S. presidential debate on Monday.
Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.
1. Fed Chair Yellen Speaks
After holding off on a rate hike last week, the Fed is keeping itself in the market's sights, with Fed Chair Janet Yellen testifying before the House Financial Services Committee on regulation and supervision Wednesday at 10:00AM ET (14:00GMT).
On Thursday, Yellen is due to speak via videoconference at the Minority Bankers Forum in Kansas City at 4:00PM ET (20:00GMT).
Her comments will be monitored closely for any new insight on policy. Last week, the U.S. central bank kept interest rates unchanged but hinted that an increase could come in December if the job market continued to improve.
2. ECB President Draghi Delivers Comments
ECB President Mario Draghi is due to testify before the European Parliament's Committee on Economic and Monetary Affairs in Brussels on Monday at 15:05GMT (11:05AM ET).
On Wednesday, Draghi is scheduled to speak about current developments in the euro area at the German Bundestag, in Berlin at 14:30GMT (10:30AM ET).
Investors will be looking for indications that the ECB is moving towards boosting monetary stimulus at its December meeting.
3. BOJ Governor Kuroda Remarks in Focus
BOJ Governor Haruhiko Kuroda is due to speak at the National Securities Industry Convention in Tokyo on Thursday at 6:35GMT (2:35AM ET).
His comments take on extra importance after the Japanese central bank announced that it will shift policy to targeting interest rates on Japanese government bonds as the focus of its massive stimulus program, abandoning its target of increasing base money.
4. OPEC Meeting
OPEC members, led by Saudi Arabia and other big Middle East crude exporters, such as Iran and Iraq, will meet non-OPEC producer Russia at informal talks on the sidelines of an energy conference in Algeria from Monday through Wednesday.
According to market experts, chances that the meeting would yield any action to reduce the global glut appeared minimal. Instead, most believe that oil producers will continue to monitor the market and possibly postpone freeze talks to the official OPEC meeting in Vienna on November 30.
An attempt to jointly freeze production levels earlier this year failed after Saudi Arabia backed out over Iran's refusal to take part of the initiative, underscoring the difficulty for political rivals to forge consensus.
5. U.S. Presidential Debate
With just over six weeks until Election Day in the U.S., the market will turn its attention to the first televised U.S. presidential debate Monday night.
Market participants are mostly expecting Democratic candidate Hillary Clinton to win the presidency and have not factored in the implications of a victory for Donald Trump. The idea of Trump in the White House is a worrying one for some investors who balk at his populist, unpredictable style.
Recent polls have shown a tightening race, with Clinton's once-comfortable lead narrowing sharply. The latest NBC/ Wall Street Journal poll gives Clinton a 6 point lead, 43% to Trump's 37%, among likely voters.
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