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Key Takeaways
- The US will go through a long weekend and return to the market on Tuesday
- Central bankers will reveal interest rate decisions for major economies globally
The week starting Monday, September 6, will be shortened for the US and Canada as they will take a break on the first day of the week in observance of Labor Day. Indeed, the federal holiday honors the contributions of laborers to the growth of the United States.
As such, the US stock market will be closed on Monday along with the bond market. Therefore, the US markets will be back in business on Tuesday.
To kick into gear on Tuesday, the Australian central bank, the Reserve Bank of Australia, will announce its interest rate decision for September. Slated for 00:30 am EST, the decision is expected to leave interest rates unchanged at 0.10%.
UK Manufacturing Data Expected on Friday
At 05:00 am EST, the German ZEW Economic Sentiment for September will be announced. Also, at 07:50 pm EST, Japan will reveal its gross domestic product (GDP) figures for the second quarter on a quarterly basis.
On Wednesday, at 10:00 am EST, Canada’s central bank, the Bank of Canada, will announce its interest rate decision for September. However, the bank is expected to leave interest rates unchanged at 0.25%.
Moreover, on Thursday, the European Central Bank convenes for its policy meeting and interest rate decision at 07:45 am EST. Thus, ECB officials, including ECB President Christine Lagarde, are expected to discuss a possible timeline for reducing monthly asset purchases under the €1.85tn pandemic emergency purchase program (PEPP).
On Friday, the UK will publish its manufacturing production numbers for July, on a monthly basis. The report is scheduled to arrive at 02:00 am EST. Similarly, at 08:30 am EST, the US will release its PPI data for August, on a monthly basis. Finally, at 08:30 am EST, Canada will announce its employment change for August.
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