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Events to Look Out for Next Week

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  • Event of the Week – Non-Farm Payrolls (USD, GMT 12:30) – A 160k August Non-Farm Payroll increase is anticipated, after gains of 187k in July, 185k in June, and 281k in May. Initial claims have bounced in August after a temporary recovery in July, but continuing claims remain tight. We assume a 5k factory jobs rise after a -2k July decrease. We expect the jobless rate to hold steady at 3.5% from July, versus a 54-year low for the two-digit rate of 3.43% in January. Hours-worked are assumed to rise 0.1% after a -0.2% July dip, while the workweek holds steady at 34.3. Average hourly earnings are assumed to rise 0.4%, after a 0.4% gain in July, while the y/y wage gain should hold at 4.4% for a third month.
  • ISM Manufacturing PMI (USD, GMT 14:00) – The ISM index is expected to rise to 46.6 from 46.4 in July and a 3-year low of 46.0 in June. We saw an 18-year high of 63.7 in March of 2021, an 11-year low of 41.6 in April of 2020, and an all-time low of 30.3 in June of 1980.

Click here to access our Economic Calendar

Andria Pichidi

Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.




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