This week is filled with key economic events that will impact the global markets. On Monday, keep an eye on the US ISM Services PMI, which is expected to show a slight improvement. The report highlights the challenges faced by manufacturers and service providers due to election uncertainty and rising input costs.
Moving on to Tuesday, Japan’s Average Cash Earnings and the RBA Policy Decision will be in focus. The RBA is expected to maintain the Cash Rate unchanged, following a recent miss in Australian Q2 CPI data.
Wednesday brings the New Zealand Labour Market report, where an increase in the Unemployment Rate is expected. The softening labor market in New Zealand may lead to rate cuts sooner than expected by the RBNZ.
Thursday’s highlight is the US Jobless Claims, a crucial indicator of the labor market’s health. Initial Claims are expected to remain in the 200K-260K range, while Continuing Claims have been on the rise in recent weeks.
Finally, on Friday, the Canadian Labor Market report is anticipated to show job additions in July. The Unemployment Rate is expected to hold steady, but the BoC’s recent rate cut signals further easing measures in the future.
Overall, these events will provide insights into the economic conditions of various countries and help investors make informed decisions in the financial markets. Stay tuned for updates throughout the week.