In the week ahead, investors will be focusing on Friday’s U.S. nonfarm payrolls report, for indications on whether the economic recovery is sufficiently strong for the Fed to start rolling back its stimulus program. Markets will also be watching developments in U.S. budget negotiations. Meanwhile, interest rate decisions by the European Central Bank, the Bank of Japan and the Reserve Bank of Australia will be closely watched.
Monday, September 30
New Zealand is to release data on building consents, an excellent indicator of future construction activity. Australia is to publish data on private sector credit. Japan is to release a series of economic data, including reports on housing starts, retail sales and industrial production. China is to publish the final reading of the closely watched HSBC manufacturing PMI. The U.K. is to produce data on net lending to individuals and mortgage approvals. The euro zone is to release preliminary data on consumer price inflation, which accounts for the majority of overall inflation. Canada is to publish its monthly report on gross domestic product, the broadest indicator of economic activity and the leading measure of the economy’s health. The U.S. is to release a report on manufacturing activity in Chicago.
Tuesday, October 1
Japan is to release data on household spending and average cash earnings, as well as reports on manufacturing and service sector activity. Markets in China are to remain closed for a national holiday. Beijing is to release data on manufacturing activity, a leading indicator of economic health. The RBA is to announce its benchmark interest rate. The rate announcement is to be accompanied by the bank’s rate statement, which contains important insights into current and future economic conditions from the bank’s perspective. Australia is also to produce official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. Switzerland is to release its SVME purchasing managers’ index, a leading indicator of economic health. The euro zone is to publish data on the unemployment rate, while Spain and Italy are to release data on manufacturing activity. Germany is to release official data on the change in the number of people unemployed, a leading economic indicator. The U.K. is to produce data on manufacturing activity, a leading economic indicator. In the U.S., the Institute of Supply Management is to produce a report on manufacturing activity, a leading economic indicator.
Wednesday, October 2
Markets in China are to remain closed for a national holiday. Australia is to publish data on building approvals and the trade balance, the difference in value between imports and exports. Spain is to release official data on the change in the number of people unemployed. The U.K. is to publish data on construction activity, a leading indicator of economic health. The ECB is to announce its benchmark interest rate. The announcement is to be followed by what will be a closely watched press conference with President Mario Draghi. The U.S. is to release the ADP report on nonfarm payrolls, which leads the closely watched government report by two days.
Thursday, October 3
Markets in China are to remain closed for a national holiday. The euro zone is to release data on retail sales, while Spain and Italy are to release data on service sector activity. Markets in Germany will be closed for a national holiday. The U.K. is to release data on service sector activity, a leading economic indicator. Later Thursday, the U.S. is to release the weekly government report on initial jobless claims along with data on factory orders. Meanwhile, the ISM is to produce a report on non-manufacturing activity, a leading economic indicator.
Friday, October 4
Markets in China are to remain closed for a national holiday. The BoJ is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. The rate announcement is to be followed by a press conference. Germany is to release data on producer price inflation. Canada is to publish its Ivey PMI. The U.S. is to round up the week with the closely watched government report on nonfarm payrolls, the unemployment rate and average hourly earnings.