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Weekly Market Preview
Friday, 27th of September 2024
Markets are anticipating several significant economic reports this week, along with speeches from major central bank leaders. Preliminary data on European inflation for September is set to be released, with Bloomberg reporting that expectations suggest a continued decline in inflation, driven by falling energy prices. The YoY Inflation headline may fall from 2.2% in August to 2% in September. This could increase the likelihood of the European Central Bank cutting interest rates by 25 basis points at its October meeting. Notably, markets have already priced in an over 80% chance of a rate cut at the upcoming meeting, according to Bloomberg.
Additionally, investors are awaiting the US jobs report for September, with forecasts predicting the addition of 120,000 jobs, surpassing the 118,000 added in August, while unemployment is expected to remain steady at 4.2%. Recently, markets have shifted focus from inflation, which is nearing its 2% target, to the US labour market, especially after July’s report sparked concerns of a potential recession. Any weaker-than-expected job figures or a rise in unemployment could reignite fears of a US recession among investors.
Monday, 30th of September
Tuesday, 1st of October
Wednesday, 2nd of October
Thursday, 3rd of October
Friday, 4th of October
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