Weekly Analysis (25-29 Sep 2023)
| Time | Currency | Event |
| Monday | ||
| 14:00 | USD | ISM Manufacturing PMI (Sep) |
| 15:00 | USD | Fed Chair Powell Speaks |
| Tuesday | ||
| 12:00 | USD | Building Permits |
| 14:00 | USD | CB Consumer Confidence (Sep) |
| 14:00 | USD | New Home Sales (Aug) |
| Wednesday | ||
| 01:00 | NZD | RBNZ Interest Rate Decision |
| 07:55 | EUR | HCOB Germany Services PMI (Sep) |
| 08:00 | EUR | HCOB Eurozone Services PMI (Sep) |
| 08:30 | GBP | S&P Global/CIPS UK Services PMI (Sep) |
| 14:00 | USD | ISM Non-Manufacturing PMI (Sep) |
| Thursday | ||
| 12:30 | USD | Initial Jobless Claims |
| 14:00 | CAD | Ivey PMI (Sep) |
| Friday | ||
| 12:30 | USD | Average Hourly Earnings (MoM) (Sep) |
| 12:30 | USD | Nonfarm Payrolls (Sep) |
| 12:30 | USD | Unemployment Rate (Sep) |
The upcoming week holds significance for the US dollar, with the ISM Manufacturing PMI as the focal point, given its 20% contribution to US GDP. A deeper contraction may raise concerns of a hard landing, making investors sensitive to weak numbers. Tuesday's JOLTs Job Openings and ADP nonfarm employment change influence Fed expectations, but the ISM Non-Manufacturing PMI holds more potential to move the dollar.
The Eurozone focuses on manufacturing and services PMIs, with German, Italian, and Eurozone PMIs in view. ECB commentary throughout the week by Philip Lane and Christine Lagarde is crucial.
The British Pound is in for a potentially turbulent week, as it grapples with potential revisions in the services PMI data, which could sway its trajectory. Additionally, the housing sector data and speeches from Bank of England officials warrant close attention.
For the Canadian Dollar, trade data and employment figures are key, along with OPEC updates and market sentiment.
In the Asia-Pacific region, the RBA's decision, Australian trade data, and retail sales figures are significant. Chinese private sector PMI and business confidence are also factors.
The Kiwi Dollar's direction depends on the RBNZ interest rate decision and Chinese data.
For the Japanese Yen, the Tankan survey kicks off the week, followed by services PMIs and household spending data, which is crucial for the Bank of Japan's policy stance.