The coming week will be full of closely-watched economic events following the downbeat non-farm payrolls report from the U.S which dampened expectations that the Fed will hike interest rates as soon as this year. The U.S. economy added just 142k below the optimistic forecast of 203k, even below the previous month’s number of 173k that revised down to 136k.
This week will mark three policy meetings of major central banks. The Reserve Bank of Australia, Bank of Japan and Bank of England will revise its interest rates.
Monday, October 5
Markets in China are to remain closed for a national holiday.
The U.K. is to release data on service sector activity.
In the euro zone, the Eurogroup of finance ministers are to hold talks in Brussels.
The Institute of Supply Management is to release data on service sector activity.
In New Zealand, the NZIER Business Confidence for the third quarter will
be released.
In Australia, the AiG Performance of Construction Index
for September will be of interest.
Overnight, Reserve Bank of Australia will have its policy meeting and will publish its interest rate decision along with its rate statement.
Tuesday, October 6
Markets in China are to remain closed for a holiday.
Germany is to publish a report on factory orders.
The Eurogroup of finance ministers are to hold a second day of talks in Brussels.
The U.S. and Canada are to report on their respective trade balances.
ECB President Mario Draghi is to speak at an event in Frankfurt.
Wednesday, October 7
Financial markets in China will be closed for holidays.
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.
The Swiss National Bank is expected to issue data on foreign currency reserves.
The U.K. is to publish data on industrial production.
Canada is to report on building permits.
Thursday, October 8
Japan is will issue reports on core machinery orders and the current account.
The Bank of England is to announce its monetary policy decision and publish the minutes of its meeting. The marketplace expects just one member of the committee to vote for an interest rate hike. The BoE minutes and the monetary policy statement will be eyed for further cues to decipher possible hawkish comments.
The ECB is to publish the minutes of its most recent meeting.
BoE Governor Mark Carney is to speak at an event in Lima later Thursday.
The U.S. is to release the weekly report on initial jobless claims and the Fed is to publish the minutes of its September meeting.
Friday, October 9
Australia is to release data on home loans.
The International Monetary Fund will begin its meeting.
In Norway, the inflation rate for September will be out.
In the U.K., goods
trade balance for August will be eyed. August’s wholesale inventories
from U.S will be released.
The CAD traders will keep a tab on Canada’s employment report for
September. The unemployment rate is forecast to have slowed down to
6.9% from 7.0% before while the Canadian economy is expected to have
added 10,000 jobs in September vs 12,000 the previous month.
On Saturday afternoon, Bank of Canada Stephen Poloz will have a speech and he is expected to comment on the employment report will be released the day before.
The U.S. is to terminate the week with a report on import prices.
