So get ready for all new financial world next week! Meanwhile the US Dollar Index (DXY) continuing to find strong upside momentum as it presses above the 98.00 level. Partly, this increase is aided by a strong sell-off in US yields that saw quite a rebound. Market participants are getting ready for a deluge of important economic reports. Then, they’ll dive into specific indicators that could shape the trajectory of trends to come.
Just as clock strikes midnight on September 30, three major reports are due out which will surely have Wall Street’s attention. The Job Openings and Labor Turnover Survey (JOLTs) has the spotlight today. Its findings will have great implications for understanding employment dynamics throughout the United States. Analysts anticipate that this report will shed light on labor market conditions and job availability, which are crucial for gauging economic health.
On the same day as the JOLTs report, we’ll get FHFA’s House Price Index. This will produce all kinds of valuable and actionable housing market and macroeconomic intelligence. This index is key for tracking trends in the cost of shelter, a measure with significant impacts on consumer spending and the stability of the broader economy. On September 30, the Chicago PMI will be released. This annual report will go a long way to help shine a light on the region’s manufacturing activity.
We’ll get another read on consumer sentiment with next week’s release of the Conference Board’s Consumer Confidence Index. This possibly landmark report is scheduled to be released on September 30. This report measures consumer perceptions of the economy and is a key indicator for what consumers may do with their spending. The American Petroleum Institute (API) is scheduled to release its weekly report on US crude oil inventories. This new report will shine much-needed light on shifting energy demand and supply dynamics.
As we move through the month of October, attention will turn toward a few big economic reports set to drop on October 1. The Mortgage Bankers Association (MBA) will be releasing its weekly report on mortgage applications. This annual report is essential reading for understanding the most recent trends in our nation’s housing market. The ADP Employment Change report will be the first to provide an estimate of private sector employment growth. This report is an appetizer in advance of the full Nonfarm Payrolls meal.
On October 1 the ISM Manufacturing PMI and the final S&P Global Manufacturing PMI will come out. This will move the future of manufacturing activity literally into Center Stage! Since these reports are seen as strong indicators of manufacturing sector health, they help set market expectations for increased demand and economic growth.
The week continues to gain momentum with two crucial reports set for October 3: the final HCOB Services PMI in Germany and its counterpart for the euro zone. These indices serve as barometers of service sector performance across Europe. They are important for understanding the bigger economic picture in the region. On the same day, euro area producer prices will be released. This data will help reveal the inflationary pressures that businesses are feeling right now.
The first of the week’s reports, the Nonfarm Payrolls report is bound to be the highlight. It’s sure to get the nation buzzing that much more on October 3rd! This report is very important for understanding national employment trends in the US and usually drives Federal Reserve policy making. Market analysts will keenly scrutinize this data for indications of labor market strength or weaknesses that could impact economic recovery.