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- Canada and Australia will report their GDP figures
- The US nonfarm payrolls will reveal how many new jobs were created in August
The week starting Monday, August 30, will deliver a wide range of economic data from around the world. Traders and investors will be monitoring a flurry of PMI data, GDP data, and one of the most important monthly reports, the US non-farm payrolls along with the unemployment rate.
On Monday, market participants will have a largely event-free day as no major economic updates are expected.
Slated for Tuesday, the German unemployment rate will arrive at 03:55 am EST. Later, at 05:00 am EST, Europe will reveal its consumer price index data, or CPI, for the month of August on an annual basis. The report would be key in measuring changes in purchasing trends and inflation.
Canada’s GDP figures for June, on a monthly basis, will be published at 08:30 am EST. Australia’s GDP growth rate for the second quarter, on a quarterly basis, will be reported at 09:30 pm EST.
Germany and UK Set to Publish Mid-Week Data
Wednesday’s economic data kicks off with Germany’s manufacturing PMI data for August at 03:55 am EST. At 04:30 am EST, the UK will publish its manufacturing PMI report for August.
Moving to Friday, after the lack of major economic events scheduled for Thursday, traders and investors will be eyeing the latest jobs report from the US. Before that, the UK will report its composite PMI and services PMI for August at 04:30 am EST.
The major event for the week, the US nonfarm payrolls for August, arrive at 08:30 am EST. Besides the job number, the US Labor Department will also announce the unemployment rate for August.
The nonfarm payroll report and the unemployment rate will show if the US economy continued to heal by adding more people to the labor market. For July, US employers added 943,000 new hires, well above the consensus for 870,000. Economists expect the US economy to grow by about 763,000 new jobs in August.
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