In the week ahead, trading volumes are likely to remain light on Monday, with U.S. markets closed for the Labor Day holiday. Investors will be focusing on Thursday’s outcome of the ECB’s monthly monetary policy meeting, as well as Friday’s closely watched U.S. nonfarm payrolls report. Monetary policy announcements by central banks in Australia, Japan, Canada and the U.K. will also be awaited.
Monday, September 1
Japan is to release data on capital spending. China is to publish official data on manufacturing activity and release revised data on the HSBC manufacturing index. The U.K. is to publish data on manufacturing activity, as well as a report on net lending. Markets in the U.S. and Canada are to remain closed for the Labor Day holiday.
Tuesday, September 2
Australia is to produce data on building approvals and the current account. The Reserve Bank of Australia is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. In the euro zone, Spain is to release data on the change in the number of people employed. The U.K. is to publish a report on construction sector activity. Later Tuesday, the Institute of Supply Management is to publish a report on U.S. manufacturing activity.
Wednesday, September 3
China is to release official data on service sector activity, as well as a HSBC report on the service sector. Australia is to publish a report on gross domestic product, the broadest indicator of economic activity and the leading indicator of economic growth. Meanwhile, RBA Governor Glenn Stevens is to speak; his comments will be closely watched. The U.K. is to release what will be a closely watched report on service sector growth. The euro zone is to release data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The Bank of Canada 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 U.S. is to publish data on factory orders.
Thursday, September 4
Australia is to publish reports on retail sales and the trade balance, the difference in value between imports and exports. The Bank of Japan is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. Germany is to release data on factory orders. The Bank of England is to announce its benchmark interest rate. Later in the day, the European Central Bank is to announce its benchmark interest rate. The announcement is to be followed by a press conference with President Mario Draghi. Both the U.S. and Canada are to release reports on their respective trade balances. The U.S. is also to release the ADP report on private sector job creation and the weekly report on initial jobless claims. Later Thursday, the ISM is to publish a report on U.S. service sector activity.
Friday, September 5
In the euro zone, Germany is to release data on industrial production. The Swiss National Bank is to publish data on its foreign currency reserves. This data is closely scrutinized for indications of the size of the bank’s operations in currency markets. Canada is to publish data on the change in the number of people employed and the unemployment rate. Canada is also to publish the Ivey PMI. The U.S. is to round up the week with the closely watched government report on nonfarm payrolls and the unemployment rate.