The week ahead includes some major news and economic events that are likely determine the latest markets trends. Let’s take a look at them in more detail.
The U.S.
The ISM Manufacturing PMI is scheduled to be released by the Institute for Supply Management on Monday, October 2, 2023 at 6:00 PM, GMT+4 (Dubai Time). The market anticipates a rise of 47.8 compared to the previous figure of 47.6, signaling an improvement in the manufacturing sector.
Fed Chair Powell is due to speak in York on Monday, October 2, 2023 at 7:00 PM, GMT+4 (Dubai Time). This could provide further insights regarding the monetary policy. Audience questions are expected.
JOLTS Job Openings is scheduled to be released by the Bureau of Labor Statistics on Tuesday, October 3, 2023 at 6:00 PM, GMT+4 (Dubai Time). The market forecasts a rise, indicating a growing demand for labor.
ADP Non-Farm Employment Change is set to be released by Automatic Data Processing Inc. on Wednesday, October 4, 2023 at 4:15 PM, GMT+4 (Dubai Time). The market anticipates a drop signaling a decline in employment growth.
ISM Services PMI data is set to be released by the Institute for Supply Management on Wednesday, October 4, 2023 at 6:00 PM, GMT+4 (Dubai Time). The market expects a decline in the data, indicating a drop in the services sector.
Non-Farm Employment Change is scheduled to be released by the Bureau of Labor Statistics on Friday, October 6, 2023 at 4:30 PM, GMT+4 (Dubai Time). The market expects forecasts a drop, signaling some weakness in the labor market.
Australia
On Tuesday, October 3, 2023, the Reserve Bank of Australia is set to release its Cash Rate at 7:30 AM, GMT+4 (Dubai Time). The market expects the rate to remain unchanged at 4.10%, indicating easing inflationary pressures.
Switzerland
The Consumer Price Index (CPI) m/m is scheduled to be released by the Federal Statistical Office on Tuesday, October 3, 2023 at 10:30 AM, GMT+4 (Dubai Time). The market forecasts a drop, indicating a reduction in inflationary tensions.
New Zealand
The Official Cash Rate is set to be released by the Reserve Bank of New Zealand on Wednesday, October 4, 2023 at 5:00 AM, GMT+4 (Dubai Time). The market expects the rate to remain as is at 5.50%, indicating no need for rate hikes.
OPEC-JMMC Meetings
The OPEC-JMMC Meetings will be taking place on Wednesday, October 4, 2023, and will span the entire day. During the session, the 13 OPEC members will discuss topics regarding the energy market and agree on upcoming set oil production levels.
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