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Tuesday 3rd October
4:30 a.m. | AUD | Interest Rate decision and Monetary Policy Statement
There is little indication that the RBA are considering an interest rate hike at this meeting. There is also little anticipation around the statement but inevitably this is one of the big 3 releases for any economy so be prepared for volatility.
9:30 a.m. | GBP | Construction PMI | Prior 51.1 | Expected 51.2
The 2nd of the UK PMI releases this week, and again while not a significant market mover, gives good indication on how well the economy is doing and what we can expect to see from Q2 GDP releases.
Wednesday 4th October
9:30 a.m. | GBP | Services PMI | Prior 3.2 | Expected 53.3
The 3rd and final PMI release for the UK and probably the most important due to the size of the services industry in the UK. This will give a significant indication as to where GDP may be running for Q2.
3 p.m. | USD | ISM Nonmanufacturing PMI | Prior 55.3 | Expected 55.5
As we approach the December Fed decision which is likely to be the soonest that we will see another interest rate increase this kind of release will be important to monitor.
Friday 6th October
1:30 p.m. | USD | Average Hourly Earnings | Prior 0.1% | Expected 0.3%
Very important and probably more important than non-farm payrolls as the Fed continues to look for signs of inflation. These releases will be the most watched by the Fed when it comes to deciding whether there is going to be another interest rate increase this year as suggested at the recent FOMC meeting.
1:30 p.m. | USD | Non-farm payrolls | Prior 156k | Expected 88k
Somewhat of a lacklustre expectation this month considering the benchmark is usually around 200k. However, we have just come through the summer season which historically tends to be quite slow as well as some of the impacts relating to the recent hurricanes. There is always volatility around this release but from a sentiment perspective is unlikely to have any significant impact, we have to look at this one release in the context of upcoming releases.
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