European Markets Brace for ECB Rate Decisions Amid Global Economic Shifts

The European Central Bank may cut rates for the first time in 13 years, affecting global markets. The euro declined in October, and TSMC's strong Q3 profits could sway investor sentiment. Rentokil's London earnings could reflect global economic status. Disappointing Chinese policies impacted Asian markets.

Markets across Europe and worldwide are on edge as the European Central Bank seems poised to make its first consecutive rate cuts in over a decade. The decision is highly anticipated, with traders keen on any policy indications that could further weaken the euro.

The once-strong currency has already seen a 2.4% drop this October, while rate expectations peg more cuts in Europe than the U.S. Looking at the tech sector, chipmaking behemoth TSMC's impressive 42% profit surge offers a potential lift to markets, coming on the heels of a sobering forecast from ASML.

UK-based Rentokil's earnings could provide a litmus test for the broader economy as its shares have hit a four-year low. Meanwhile, markets in Asia and Australia are experiencing subdued performance due to China's lackluster economic policies, despite a temporary lift from robust job figures in Australia.

(With inputs from agencies.)