China reported third-quarter growth data Thursday that met expectations, but was a tad lower than the second quarter's 6.9 percent expansion. The country's National Bureau of Statistics said its third-quarter GDP growth was 6.8 percent compared to the same period last year, a day after President Xi Jinping made big promises for the country's economic future during a pivotal leadership meeting. Economists polled by Reuters had forecast China to post a modest drop from the second quarter, with GDP to have grown 6.8 percent in the July-September period due to the government's efforts to cool the property market and cut debt risks.

The total value added of the industrial enterprises above designated size in the first three quarters was up by 6.7 percent year-on-year in real terms, 0.7 percentage point higher than the same period last year. An analysis by types of ownership showed that the value added of state holding enterprises went up by 6.8 percent; collective enterprises up by 0.3 percent; share-holding enterprises up by 6.8 percent; and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan up by 7.1 percent.

In the US session Unemployment Claims and Philly Fed Manufacturing Index data was published. In the week ending October 14, the advance figure for seasonally adjusted initial claims was 222,000, a decrease of 22,000 from the previous week's revised level. This is the lowest level for initial claims since March 31, 1973 when it was 222,000. The previous week's level was revised up by 1,000 from 243,000 to 244,000. The 4-week moving average was 248,250, a decrease of 9,500 from the previous week's revised average. The previous week's average was revised up by 250 from 257,500 to 257,750.

Separate Report on Philly Fed Manufacturing Index showed that the index for current manufacturing activity in the region increased 4 points to a reading of 27.9 and is now at its highest reading since May. More than 39 percent of the firms indicated increases in activity this month, while 11 percent reported decreases. Both the new orders and shipments indexes remained positive but fell this month, decreasing 10 points and 13 points, respectively. Both the unfilled orders and delivery times indexes were positive for the 12th consecutive month, suggesting longer delivery times and an increase in unfilled orders.

There will be no major data releases from Australia tomorrow. In the US session Existing Home Sales figures will be published. Analysts anticipated decrease to an annual rate of 5.30 million.

Figures to watch:

Existing Home Sales (Friday 16:00)