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MNI GLOBAL WEEK AHEAD: EZ inflation and US jobs in focus

Eurozone inflation seen higher (Weds 1000BST)

Headline inflation is seen edging higher in August, further underlining the challenges facing the ECB ahead of the Sept 8 Governing Council meeting. Analysts expected the headline rate to edge up to 9.1% from July's 8.9%, with core rising to 4.2%.

US NFP seen adding 300,000 jobs in August (Friday 1330BST)

U.S. nonfarm payrolls are forecast to rise 300,000 in August, with wages expected to rise 0.5% m/m and 5.4% y/y. Nominal wage growth has been strong in the tight labour market, analysts noted, boosted by the 3.25 million nonfarm jobs added to payrolls so far in 2022r.

Some indicators point to slowing momentum, with job openings -- often a precursor to weakening payrolls -- declining. The data will undoubtedly be closely watched by the Fed, although the Sept 13 CPI data is likely to be of greater importance.

Quieter week for central banks

No major central bank announcements in the coming week, although the Hungarian central bank meet Tuesday.

DateGMT/LocalImpactFlagCountryEvent
29/08/20220130/1130**AU Retail Trade
29/08/20220600/0800***SE GDP
29/08/20220600/0800**SE Retail Sales
29/08/20221300/1500EUECB Chief Economist Philip Lane Speaks at CEBRA
29/08/20221430/1030**US Dallas Fed manufacturing survey
29/08/20221530/1130*US US Treasury Auction Result for 26 Week Bill
29/08/20221530/1130*US US Treasury Auction Result for 13 Week Bill
29/08/20221815/1415US Fed Vice Chair Lael Brainard
30/08/20220130/1130*AU Building Approvals
30/08/20220700/0900**SE Economic Tendency Indicator
30/08/20220700/0900ES Retail sales
30/08/20220700/0900***ES HICP (p)
30/08/20220800/1000***DE Bavaria CPI
30/08/20220830/0930**UK BOE M4
30/08/20220830/0930**UK BOE Lending to Individuals
30/08/20220900/1100***DE Saxony CPI
30/08/20220900/1100**EU Economic Sentiment Indicator
30/08/20220900/1100*EU Consumer Confidence, Industrial Sentiment
30/08/20220900/1100*EU Business Climate Indicator
30/08/20221200/1400***DE HICP (p)
30/08/20221200/0800US Richmond Fed's Tom Barkin
30/08/20221230/0830*CA Current account
30/08/20221255/0855**US Redbook Retail Sales Index
30/08/20221300/0900**US S&P Case-Shiller Home Price Index
30/08/20221300/0900**US FHFA Home Price Index
30/08/20221300/0900**US FHFA Quarterly Price Index
30/08/20221400/1000***US Conference Board Consumer Confidence
30/08/20221400/1000**US JOLTS jobs opening level
30/08/20221400/1000**US JOLTS quits Rate
30/08/20221500/1100US New York Fed's John Williams
31/08/20222301/0001*UK BRC Monthly Shop Price Index
31/08/20220130/1130***AU Quarterly construction work done
31/08/20220645/0845***FR HICP (p)
31/08/20220645/0845**FR PPI
31/08/20220645/0845***FR GDP (f)
31/08/20220645/0845**FR Consumer Spending
31/08/20220700/0900*CH KOF Economic Barometer
31/08/20220755/0955**DE Unemployment
31/08/20220900/1100***IT HICP (p)
31/08/20220900/1100***EU HICP (p)
31/08/20221100/0700**US MBA Weekly Applications Index
31/08/20221200/0800US Cleveland Fed's Loretta Mester
31/08/20221215/0815***US ADP Employment Report
31/08/20221230/0830***CA CA GDP by Industry and GDP Canadian Economic Accounts Combined
31/08/20221345/0945**US MNI Chicago PMI
31/08/20221430/1030**US DOE weekly crude oil stocks
31/08/20222200/1800US Dallas Fed's Lorie Logan
31/08/20222230/1830US Atlanta Fed's Raphael Bostic
01/09/20222300/0900**AU IHS Markit Manufacturing PMI (f)
01/09/20220030/0930**JP IHS Markit Final Japan Manufacturing PMI
01/09/20220130/1130*AU Private New Capex and Expected Expenditure
01/09/20220130/1130**AU Lending Finance Details
01/09/20220145/0945**CN IHS Markit Final China Manufacturing PMI
01/09/20220630/0830***CH CPI
01/09/20220630/0830**CH retail sales
01/09/20220715/0915**ES IHS Markit Manufacturing PMI (f)
01/09/20220745/0945**IT IHS Markit Manufacturing PMI (f)
01/09/20220750/0950**FR IHS Markit Manufacturing PMI (f)
01/09/20220755/0955**DE IHS Markit Manufacturing PMI (f)
01/09/20220800/1000**EU IHS Markit Manufacturing PMI (f)
01/09/20220830/0930UK S&P Global Manufacturing PMI (f)
01/09/20220830/0930**UK IHS Markit/CIPS Manufacturing PMI (Final)
01/09/20220830/0930UK BOE Decision Makers Panel
01/09/20220900/1000**UK Gilt Outright Auction Result
01/09/2022-***US Domestic-Made Vehicle Sales
01/09/20221230/0830*CA Building Permits
01/09/20221230/0830**US Jobless Claims
01/09/20221230/0830**US Non-Farm Productivity (f)
01/09/20221345/0945***US IHS Markit Manufacturing Index (final)
01/09/20221400/1000***US ISM Manufacturing Index
01/09/20221400/1000*US Construction Spending
01/09/20221430/1030**US Natural Gas Stocks
01/09/20221930/1530US Atlanta Fed's Raphael Bostic
02/09/20220600/0800**DE Trade Balance
02/09/20220800/1000EU ECB Consumer Expectations Survey
02/09/20220900/1100**EU PPI
02/09/20221230/0830**US WASDE Weekly Import/Export
02/09/20221230/0830***US Employment Report
02/09/20221400/1000**US factory new orders
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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