Monday:
A relatively light economic schedule begins the week, with Japan observing Showa Day, marking the start of Golden Week celebrations.
Tuesday:
The eurozone releases inflation data, followed by GDP figures. Canada publishes GDP and employment cost index data.
Wednesday:
New Zealand reports on employment change, unemployment rate, and labor cost index. Europe observes Labor Day. In the US, key indicators include the Chicago PMI and CB consumer confidence index.
Thursday:
Switzerland releases inflation data. The US announces weekly unemployment claims.
Friday:
The US publishes average hourly earnings, non-farm employment change, unemployment rate, and PMIs for services and manufacturing.
Eurozone Inflation and GDP:
Eurozone inflation has moderated, and this week’s data may continue to show this trend. Core CPI is approaching the ECB’s 2% target. The GDP releases are expected to reflect slight improvement in the economy.
New Zealand Employment Data:
Employment change is forecast at 0.3%, with unemployment potentially rising to 4.3%. Despite this increase, the rate would remain within historical lows.
US Economic Indicators:
The final manufacturing PMI is projected to remain unchanged, while the ISM manufacturing PMI may decline slightly. The highly anticipated FOMC meeting will not likely result in rate cuts.
BoC Governor Testimony:
BoC Governor Macklem and Deputy Governor Rogers will testify on banking, commerce, and the economy in Ottawa.
Swiss Inflation and US Labor Market:
Swiss CPI is expected to increase marginally. In the US, consensus estimates point to a rise in average hourly earnings and a slight decline in non-farm employment change.
