Busy week for US Dollar: NFP Report and Manufacturing Date releases

October 30, 2017

A busy week for the United States will see the monthly ISM's manufacturing and non-manufacturing PMI's with Friday's payrolls for the month of October. After the U.S. economy was seen posting a weaker than expected jobs in September due to the hurricanes, the markets will be looking to see for any upside revision to the data. This comes amid higher prospects that the Federal Reserve will be hiking interest rates this December.

Busy week for US Dollar: NFP Report and Manufacturing Date releases

This article is originally referred from Orbex Market Preview

The week ahead will be a busy one for the U.S. dollar as investors tune into fresh economic data that could provide more insights on the U.S. economy.

The data comes as investors speculate on the timing of the next rate hike in the U.S. The economic data will also cover the month after the hurricanes hit the U.S. shores.

Thus, some optimistic numbers are expected for the month of October. This includes the Friday’s payrolls report which showed a disappointing print in September.

The ISM’s manufacturing and non-manufacturing PMI will remain the main focus for investors. The non-manufacturing PMI is forecast to slip a few points to 58.1, down from 59.8 registered the month before.

The manufacturing PMI is also expected to cool off to 59.0, following a strong increase to 60.8 in September. This comes amid Monday’s data that will show the U.S. personal spending and personal income data.

Spending is expected to rise 0.8% on the month, while personal income is also expected to rise 0.4%. Both the measures are forecast to show a significant increase from the previous month.

The main focus will be on Friday’s payrolls report.

Economists are expecting a bullish print of 308k jobs being added in October. The hawkish print comes amid expectations that unemployment rate will be steady at 4.2% but wages are expected to rise just 0.2%.

Original Source: Orbex Market Preview

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