The monthly U.S. jobs report is the big economic release of the week and the consensus forecast is that nonfarm payrolls rose by around 130,000 – 150,000 in September while the unemployment rate held steady at 3.7 percent.
Investors will also be paying attention to new figures on U.S. construction spending, factory orders, light vehicle sales, and manufacturing PMI. PMI numbers will also be in focus overseas, with new releases due out for Germany, France, the U.K., the euro zone, India, and others. In China, the WSJ reports markets will be closed for most of the week for the National Day/Golden Week holidays while noting that, despite signs of slower Chinese growth, “Massive monetary-policy easing probably isn’t what China wants given its mounting debt problem, but the country’s deepening economic slowdown does require Beijing to be proactive in its easing efforts.” Have a great week and best wishes for a sweet year ahead to all our friends celebrating Rosh Hashanah!
