Monday, 2nd September:
- Caixin Manufacturing PMI – 2:45am BST: China releases its Caixin Manufacturing PMI data for August. This release is expected to show whether manufacturing activity has bounced back into expansion territory after contracting in July. This could impact sentiment towards the Chinese economy and influence the direction of Asian markets.
Tuesday, 3rd September:
- Swiss CPI Data – 7:30am BST: The Swiss Inflation Data (CPI) will be closely watched as it could influence the Swiss National Bank’s decision on interest rates. A lower-than-expected figure might push the bank towards further rate cuts, impacting the direction of USDCHF and EURCHF.
- Swiss GDP q/q – 8:00am BST: Switzerland’s Gross Domestic Product (GDP) data will provide insights into the health of the Swiss economy. This release will be critical in shaping expectations for future monetary policy.
- US ISM Manufacturing PMI – 3:00pm BST: This key US economic indicator is expected to show continued contraction in the manufacturing sector with a forecast of 47.5. The outcome could trigger volatility in commodity markets, particularly in Oil and Copper.
- US ISM Manufacturing Prices – 3:00pm BST: Alongside the PMI data, the ISM Manufacturing Prices index will provide further insights into inflationary pressures within the manufacturing sector.
Wednesday, 4th September:
- Australian GDP q/q – 2:30am BST: Australia’s GDP data will be pivotal for the AUD as traders look for signs of how well the economy is performing amid global economic headwinds. Any deviation from expectations could influence the direction of AUDUSD and the ASX 200.
- BoC Rate Statement – 2:45pm BST: The Bank of Canada is expected to deliver its third consecutive rate cut, reducing the Overnight Rate to 4.25%. This decision is anticipated to be a key driver for USDCAD.
- US JOLTs Job Openings – 3:00pm BST: The JOLTs report will kick off a series of important labor market data in the US. This will be closely watched by traders as it may provide clues on the upcoming Non-Farm Payrolls report on Friday.
- BoC Press Conference – 3:30pm BST: Following the rate decision, the Bank of Canada’s press conference will be scrutinized for forward guidance and its impact on the Canadian Dollar.
Thursday, 5th September:
- RBA Governor Bullock Speaks – 3:00am BST: The Reserve Bank of Australia’s Governor’s speech will be watched for insights into future monetary policy, especially after the GDP data release earlier in the week.
- UK Construction PMI – 9:30am BST: The UK Construction PMI is forecasted at 54.6. This release will be important for assessing the health of the UK construction sector.
- US ADP Non-Farm Employment Change – 1:15pm BST: The ADP employment report is a precursor to Friday’s Non-Farm Payrolls, offering an early indication of the labor market’s health. A higher number could bolster the dollar.
- US Initial Jobless Claims – 1:30pm BST: Weekly unemployment claims will further set the stage for the Non-Farm Payrolls. A lower-than-expected number could reduce expectations for aggressive Fed rate cuts.
- US Final Services PMI – 2:45pm BST: The Final Services PMI will provide insights into the service sector’s performance. Any revisions could impact market sentiment.
- US ISM Services PMI – 3:00pm BST: Following the rebound in July, the ISM Services PMI for August will be crucial. A print below 50 could reignite fears of a recession, influencing US stock indices.
Friday, 6th September:
- Canadian Employment Data – 1:30pm BST: Canada will release its employment change and unemployment rate data. This release will be pivotal in shaping expectations for the Bank of Canada’s next move and will likely impact the CAD.
- US Non-Farm Payrolls – 1:30pm BST: The highlight of the week, the US Non-Farm Payrolls report, will provide a comprehensive view of the labor market. A weaker-than-expected report could increase expectations for more aggressive rate cuts by the Fed in September.
- US Average Hourly Earnings m/m – 1:30pm BST: Alongside the Non-Farm Payrolls, wage growth will be closely monitored as it influences inflation expectations.
- FOMC Member Williams Speaks – 1:45pm BST: Commentary from a key Fed member could provide further hints on the central bank’s monetary policy stance.
- Canadian Ivey PMI – 3:00pm BST: Canada’s Ivey PMI will offer another look at economic activity, further influencing CAD.
- FOMC Member Waller Speaks – 4:00pm BST: Another Fed member’s speech will round out the week, potentially adding to market volatility depending on the content.
This week promises to be crucial, with significant economic data releases and central bank decisions that could shape market direction across currencies, commodities, and equities.
