NFP AS, RBA Meeting, Manufacturing UK And US
After the FOMC meeting, the strengthening of the greenback against major currencies and gold continued last week triggered by hawkish Janet Yellen's speech. In addition, President Trump's tax reform proposal also supports the strengthening of USD. While the weakening euro is due to the political situation in Germany after the elections in which the parties supporting the prime minister Angela Merkel did not obtain a majority in parliament, and also there will be a referendum on independence from Spain Catalunya which will be conducted on October 1 tomorrow.
The market's focus this week is US Labor non-farm payrolls data for September which is expected to be below 100,000 jobs due to the impact of Harvey and Irma storms, but ADP expects to add 150,000 jobs. The day before the NFP release, Janet Yellen will speak at the US banking community conference at St. Louis. Louis. The September NFP will be crucial to support the Fed rate hike planned for later this year.
This week will also be held again RBA meeting. The interest rate is expected to be maintained at + 1.50% amid fears of AUD appreciation. Other important data and events are UK Manufacturing PMI and ISM Manufacturing AS, Tankan Manufacturing Japan, ECB meeting minutes, Canadian workforce, Australian Retail Sales, US Jobless Claims and FOMC member speeches.