Week Ahead: What to Watch This Week?

The markets are gearing up for new insights into the state of the global economy as several countries will release their GDP data for the second quarter. The most significant events this week will happen later, with updates on the U.S. labor market. Regarding central banks, it’s expected that the Bank of Canada will lower interest rates. In Asia, China’s PMI data and Japan’s spending and income figures will be closely watched.

Monday, Sep. 2

• US Labor Day holiday; most US markets are closed.
• UK manufacturing PMI final reading at 4:30 AM.
• Euro area manufacturing PMI final reading at 11:00 AM.

Tuesday, Sep. 3

• US manufacturing PMI final reading at 4:45 PM.
• US construction spending data at 5:00 PM.
• US ISM manufacturing index at 5:00 PM.

Wednesday, Sep. 4

• Australia GDP at 4:30 AM.
• China Caixin services PMI at 4:45 AM.
• Euro area services PMI final reading at 11:00 AM.
• Euro area Producer Price Index (PPI) at 12:00 PM.
• ECB’s Villeroy speaks.
• US trade balance at 3:30 PM.
• US JOLTS job openings at 5:00 PM.
• US factory orders and durable goods orders at 5:00 PM.
• Bank of Canada interest rate decision (cut expected) at 5:30 PM.
• Fed’s Beige Book at 9:00 PM.

Thursday, Sep. 5

• Japan labor cash earnings at 2:30 AM.
• German factory orders at 9:00 AM.
• Euro area retail sales at 12:00 PM.
• US ADP employment change at 3:15 PM.
• US nonfarm productivity and unit labor costs at 3:30 PM.
• US initial jobless claims at 3:30 PM.
• US services PMI final reading at 4:45 PM.
• US ISM services index at 5:00 PM.

Friday, Sep. 6

• German industrial production and trade balance at 9:00 AM.
• Euro area GDP final reading at 12:00 PM.
• US nonfarm payrolls, unemployment rate, and average hourly earnings at 3:30 PM.
• Canada net employment change and unemployment rate at 3:30 PM.
• Fed’s Williams speaks at 3:45 PM.
• Fed’s Waller speaks at 6:00 PM.