Major Economic Events:
Germany’s preliminary CPI (Aug. 30) lined up early in the week, setting the tone for the eurozone’s flash CPI readings (Aug. 31, 02:30 pm IST) due the next day.
Analysts are expecting to see a slowdown from 0.9% to 0.2% for Germany’s inflation reading in August while the region’s flash headline CPI could tick higher from 8.9% to 9.0%. The core version of the report probably climbed from 4.0% to 4.1% in August.
Next up is Switzerland’s CPI (Sept. 1, 12:00 pm IST) that’s slated to show an improvement from a flat reading to a 0.2% uptick for August.
U.S. non-farm payrolls (Sept. 2, 06:00 pm IST) – It’s NFP week! This means that dollar traders will be keeping close tabs on leading jobs indicators in the next few days and likely positioning ahead of the top-tier event.
Number crunchers estimate a 295K increase in hiring for August, slower than the earlier 528K increase.
The jobless rate likely held steady at 3.5% while average hourly earnings probably dipped from 0.5% to 0.4%.
The JOLTS job openings report (Aug. 30, 07:30 pm IST) due early in the week is expected to show slightly fewer positions for the previous month, dipping from 10.70M to 10.43M in July.
However, the ADP non-farm employment change (Aug. 31, 05:45 pm IST) is projected to show a faster pace of hiring at 310K versus the earlier 128K figure. The ISM manufacturing PMI (Sept. 1, 07:30 pm IST) might also have some clues for the official jobs report, as the reading is expected to dip from 52.8 to 52.1.