The economic data for China for October shouldn’t worry markets – it was solid without being spectacular – there were few surprises (but we will come to those shortly) and there’s nothing that will worry local investors.

Our market looks like hitting the ground with a big opening surge this morning after solid gains on Wall Street overnight Friday.

On the face of it the coming week seems a bit light on for major statistical releases around the world, or major decisions from central banks or news from leading companies.

Somehow it has come as a bit of a surprise for a lot of commentators and others to learn from yesterday’s jobs and unemployment data, that the economy is not creating many jobs.

On the eve of Twitter listing on the New York Stock Exchange overnight, we have a timely warning on some of the hype in big tech from America’s main securities regulator.

Yet another attempt yesterday from the Reserve Bank Governor, Glenn Stevens to talk the dollar lower, and the market reaction was the same – down it went, for a while, but not by much.

No rate cuts today and unless there’s a significant worsening in the economy, or an external shock in the next few months, it increasingly looks like we have seen an end to the Reserve Bank’s easing policy.

Interest rate decisions in Australia, the eurozone and the UK loom this week, along with jobs and unemployment data in Australia and the US, plus the usual scattering of early monthly data from a number of leading economies.

Despite the easy money from the Fed’s huge quantitative easing spending, commodity markets are taking a battering, unlike equities. And doing much of the damage are the enormous pressures flowing from the US oil industry.

Another solid end for markets around the world with shares particularly solid, although most had gains of less than 1% for the week.

Because October is the month of so many unfortunate ‘black’ anniversaries – October 1929 and 1987 come to mind (the latter when the market fell 25%), the month is usually seen as one where markets underperform, but not in 2013.

Our market’s going to start softer this morning for a couple of reasons – the first is the Fed’s decision to continue its $US85 billion of stimulatory spending, the second, and of greater importance, is the media report that suggests that bank regulators have effectively capped dividends and capital management plans for our four big banks.

For those investors in the property market, a quiet read of remarks yesterday from Reserve Bank Governor Glenn Stevens should be in order because he has identified the central bank’s key concern about what’s happening in property markets.

A weak day for markets in Asia, especially Australia was not followed up in Europe and the US where solid gains and new record highs were the order of the day.

The current bull run in the market, led by bank shares, will be tested this morning by the ANZ full year result.

Another solid end to the week for most markets around the world with new highs or near highs being reached.

For Australian investors, the coming week will be dominated by Australian banks with three of the biggest reporting. Offshore there’s the US Federal Reserve meeting mid-week and then late in the week, the start of the usual monthly updates on the health of manufacturing in the world’s major economies.

Markets in Europe and the US joined Australia overnight in pushing higher, shrugging off fears about China after the early estimate for the Chinese manufacturing sector’s October performance came in stronger than expected.