Hello and welcome to the work week.

On Tuesday, Americans will finally put an end to months of speculation when they go to the polls. Financial Times journalists have meticulously documented every twist and turn in this marathon election cycle. Yet the polls are still completely deadlocked.

I won’t get into the debate over whether this is the most consequential American election ever. But what is certainly true is that NATO member states, Ukraine, China, the Middle East and Russia will all have their eyes on the US as the results roll in. Expect messages from around the world as the world digests the state of play. The FT’s world-class data journalism team will also be working around the clock to bring you a forensic overview of the numbers as the count increases on Tuesday evening and Wednesday morning.

Following the elections, the Federal Reserve’s interest rate meeting will take place on Thursday this week. Economists are betting on a quarter-point cut as the US moves closer to its 2 percent inflation target. But the shadow of the elections looms large. The Fed knows that if the White House changes course on rates, for example, it risks jeopardizing the progress it has made in curbing inflation if it does not act.

Investors will be watching the central bank closely. Depending on who wins Tuesday’s vote, they may have to revise their predictions about the pace and size of future rate cuts.

Although the US news will overshadow that from Britain, the Bank of England will meet on Thursday. Markets have digested last week’s budget, and while taxes have been raised to record levels, economic commentator Chris Giles says the trajectory of monetary policy is unlikely to change that much. Analysts predict a quarter-point cut in the policy rate.

There are plenty of company reports on the horizon. Car manufacturers BMW, Toyota And Nissan are set to announce their earnings this week, with investors keenly watching the effect of stagnant electric vehicle sales on the sector. Obesity drug manufacturer Novo NordiskThe company’s earnings are also hotly anticipated as analysts consider the impact of the company’s increasing competition.

One more thing. . .

Last month, a previously undiscovered Chopin waltz was found in a library vault in New York. I plan on dusting off my keyboard and trying to play it this week. I hear countless stories of adults who played musical instruments as children, but stopped when school, work or parenthood got in the way. This moving piece from the FT archive is an encouraging reminder of the benefits of picking up your instrument again – and the life lessons it can teach you.

What are your priorities for the next seven days? Email me at [email protected] or, if you’re reading this from your inbox, hit reply.

Major economic and business reports

Here’s a more complete list of what to expect this week in terms of business reports and economic data.

Monday

• EU: HCOB Manufacturing PMI data released for October

• Results: BioNTech Q3, Ryanair Holdings HE

Tuesday

• Australia: Reserve Bank of Australia interest rate decision

• China: Caixin Services PMI data for October

• Results: Adecco Group Q3, Asos For your information, Associated British foods annual results, Bouygues Q3, Deutsche Post (DHL Group) Q3, Hugo boss Q3, Nintendo 2nd quarter 2025, Ørsted Q3, Saudi Aramco Q3, Schaeffler Q3, Thomson Reuters Q3, Zalando Q3

Wednesday

• Results: BMW Q3, Commerzbank Q3, CFS health Q3, Gilead Sciences Q3, Henkel AG & Co Q3, Hensoldt Q3, JFE Holdings HE, Marks and Spencer HE, Novo Nordisk Q3, Pandora Q3, Cougar Q3, Qualcomm Q4, Toyota Question 2

Thursday

• UK: Bank of England interest rate decision

• US: Federal Reserve interest rate decision

• EU: Retail sales announced for September

• Results: Air France KLM Q3, Banca Generali Q3, BT HE, DBS Q3, Euronav Q3, Halliburton Q3, Hershey Q3, Modern Q3, Nippon steel Q2, Nissan Q2, Rheinmetall AG Q3, Sainsbury’s HE, Statkraft Q3, Wizz Air HE, W. K. Kellogg Q3

Friday

• US: Michigan Consumer Confidence Index for November

• Canada: October unemployment figures

• Results: IAG Q3, Sony Group Corp Q2 2025

World events

Finally, here’s an overview of other events and milestones this week.

Monday

• South Korea: South Korean and EU officials will hold their first strategic dialogue in Seoul to discuss Russia’s deployment of North Korean troops

• UAE: Annual energy industry event ADIPEC kicks off with presence of Opec Secretary General and executives from key oil and gas companies

• China: The Standing Committee of the National People’s Congress will begin its week-long meeting during which it is expected to issue additional debt to revive the country’s weak economy

Tuesday

• USA: presidential election

• EU: Finance ministers meet in Brussels to discuss finances for Ukraine, VAT legislation, the Recovery and Resilience Facility and climate

• UK: Guy Fawkes Day

Wednesday

Thursday

• EU: Philip Lane, Isabel Schnabel and Frank Elderson of the ECB give speeches; European political community meets in Budapest

• USA: Federal Open Market Committee holds press conference

Friday

Saturday

Sunday