Financial markets’ focus at the end of the week will be on the September non-farm payrolls report in the US that might set the stage for the Federal Reserve to begin tapering its asset purchases, paving the road for an eventual interest rate hike, possibly towards the end of 2022.
Citing the latest revisions to the Homebase survey data for the job report’s reference week, Ian Shepherdson at Pantheon Macroeconomics has penciled-in an increase of 600,000 payrolls.
That would be slightly better than the half a million jobs anticipated by the consensus.
Worth noting, Sheperdson also said that would leave payrolls about 9.2m beneath where they would have been had the pre-Covid trend been maintained.
However, at present there were 11m unfilled job openings, he added.
In the euro area meanwhile, the most relevant new piece of data due out are German foreign trade numbers for August.
In the UK, overnight the Recruitment and Employment Confederation will publish its permanent staff placements and salaries indices for September.
Friday 08 October
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Balance of Trade (GER) (07:00)
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Non-Farm Payrolls (US) (13:30)
Unemployment Rate (US) (13:30)
Wholesales Inventories (US) (15:00)
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