This week, the market’s attention is on key US employment data and GDP reports from major countries and regions. Additionally, the Bank of Japan’s meeting, Germany’s inflation stats, and US personal consumption expenditures are all in focus. Let’s take a closer look at these main events.
USA:
Job Openings and Labor Turnover Survey (JOLTS): September reported 7.443 million job openings, with August revised up to 7.861 million.
Conference Board Consumer Confidence Index: Rose to 108.7 in October, surpassing the expected 99.5 and reflecting higher consumer optimism.
Australia: Annual consumer price inflation slowed to 2.8%, returning within the Reserve Bank’s target range of 2-3%, which supports a stable monetary policy outlook.
Germany: GDP increased by 0.2% in the third quarter, exceeding forecasts, though the annual figure reflected a 0.2% decline.
Eurozone: GDP rose 0.4% quarter-over-quarter and 0.9% year-over-year, surpassing expectations and indicating solid growth across the region.
USA:
ADP Report: Private sector payrolls rose by 233,000, marking the highest increase in 15 months.
US GDP: The economy grew 2.8% year-over-year, slightly below forecast, yet confirming a steady recovery pace.
Oil Inventories: EIA reported a 0.515 million barrel increase in inventories, exceeding expectations.
China: The Manufacturing Purchasing Managers’ Index (PMI) rose to 50.1 in October, surpassing the critical 50-point mark that distinguishes growth from contraction, reflecting the positive impact of recent stimulus measures by Beijing.
Japan: The Bank of Japan maintained its key interest rate at -0.1% but indicated readiness to raise it in the future if growth proves sustainable.
Eurozone: Annual inflation reached 2.0% in October, higher than expected, while core inflation held steady at 2.7%.
USA:
Personal Consumption Expenditure (PCE): Increased by 0.3% month-over-month, meeting expectations.
Unemployment Insurance: Claims dropped to 216,000, signaling a strong labor market.
Canada: GDP rose by 0.3% in September, matching expectations and confirming the economy’s steady progress.
USA(Anticipated Events):
The U.S. employment report for October : will offer crucial insights into the labor market.
Nonfarm Payrolls: Expected to rise by 111K, down from the previous 254K, which may indicate a hiring slowdown and more moderate economic growth.
Unemployment Rate: Projected to remain at 4.1%.
Average Hourly Earnings: Anticipated to increase by 0.3%, slightly below the previous month’s 0.4%.
ISM PMI:Forecasted at 47.5, suggesting a continued slowdown in U.S. manufacturing activity.
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