A clean day as far as economic data goes in Canada and the US the day after Jackson Hole and the start of the new trading week, although things heat up later in the week with the culmination being the US jobs report on Friday today. Feds Brainard is scheduled to speak today. However, it prerecorded video at the FedNow early adopter workshop in Illinois.
Later this week in the US:
- JOLTs job openings will be announced on Tuesday with expectations of 10.43M versus 10.70M estimate
- ADP nonfarm employment change will return with expectations of 310K vs 138K. That measure of jobs took a hiatus to retool as it wasn't in sync with the BLS report
- US employment claims on Thursday at 8:30 AM ET and ISM manufacturing PMI at 10 AM ET. ISM manufacturing is expected to dip to 52.1 from 52.8
- US nonfarm payroll on Friday at 8:30 AM. With expectations of 295K versus 528K last month. Unemployment rate is expected to remain unchanged 3.5%. Average hourly earnings are expected to rise by 0.4% versus 0.5% last month
Feds Williams speaks at 11 AM on Tuesday. Fed Mester speaks at 8 AM on Wednesday.
In the EU this week, the CPI flesh estimate year on years expected to come in at 9.0% versus 8.9% on Wednesday at 5 AM ET. The core estimate is expected to rise by 4.1% versus 4.0%.