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03 Oct 2021
2 min read

Economic Calendar Updates – 03/10

*OspreyFX would like to state that traders should research extensively before following any information given hereby. Any assumptions made in this article are provided solely for entertainment purposes and not for traders to guide or alter their positions. Please read our Terms & Conditions and Risk Disclosure for more information.

Key Takeaways

  • The week marks the start of the fourth quarter and the earnings season kicks off
  • Non-farm payrolls and unemployment numbers are to be released on Friday

Final Quarter Sets In, Earnings Season Ahead

The week starting Monday, October 4, will be significant in several ways. Firstly, it marks the start of the final quarter of 2021. On this note, the fourth quarter promises to bring exciting, even ground-shaking changes to the financial markets.

Additionally, it also sets the start of the earnings season. That being said, companies from big-tech to airlines will report their earnings for the third quarter ended September 30.

Ahead in the week, we will see the latest non-farm payrolls report and unemployment figures for September. More precisely, the two are largely regarded as the most important indicators of the health of the US economy.

Important Reports in the Weekly Agenda

For a start, to kick off the weekly scheduled economic events, Australia’s central bank will announce its interest rate decision at 11:30 pm EST on Monday. To this end, the Reserve Bank of Australia is expected to leave the interest rate unchanged at 0.10%.

On Tuesday, Europe will publish its Composite and Services PMI numbers for the month of September. The report is slated for 04:00 am EST. Later, at 04:30 am EST, the UK will release its own Composite and Services PMI figures, also for September.

Next, the US follows with its Composite and Services PMI report for September at 09:45 am EST. Later, at 09:00 pm EST, New Zealand’s central bank will announce its interest rate decision. On that note, the Reserve Bank of New Zealand is expected to raise its interest rate from 0.25% to 0.50%.

On Wednesday, Europe will publish its retail sales figures for August, on a monthly basis. The report is set for release at 05:00 am EST.

Moving to Friday for the lack of important event on Thursday.

Crucial US Jobs Report and Unemployment Data

In conclusion, Friday brings the US non-farm payrolls report, the keenly-watched economic monthly data. That said, the non-farm payrolls will be released at 08:30 am EST along with the unemployment report. In more detail, the data will show if the US economy has expanded its labor market by creating new jobs in September. Previously, for August, the jobs report disappointed as US employers added just 243,000 new hires.

For September, economists expect the US jobs market grew by 480,000 working Americans. Furthermore, the unemployment report is expected to show a slight drop from 5.2% to 5.1%. Overall, keep in mind the data is expected to create heightened volatility across the financial markets.

In addition, Canada will publish its employment change and unemployment rate at 08:30 am EST.

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