- European index contracts are losing -0.2% after a weak session in Asia, where China's Hang Seng declined
- Key macro readings around 10:00 am (final PMIs from Germany and the Eurozone) - possible volatility on indices and EURUSD
- Spot trading on Wall Street halted due to Labor Day celebrations in the US
Financial markets open the week in a mixed mood, and the absence of US investors may support increased volatility in equity markets. China's official manufacturing PMI data came in disappointing, showing a 4-month consecutive decline and the lowest level in 6 months. As a result, sentiment in Europe also weakened, with Brent Crude oil retreating nearly 1% to $76 per barrel.
Today will not bring any, key macro releases - except for the final manufacturing PMIs from Europe.
On the other hand, industry in Japan surprised positively, with the PMI rising from 49.1 to near 50 points, well above analysts' expectations. The new week is primarily about ISM data from the United States, which will shed more light on economic activity, and Friday's NFP report. Meanwhile, the market will also follow other labor market data like Wednesday's ADP, and Thursday's JOLTS and benefit claims. Rate decisions will be made by the MPC (almost certainly unchanged here) and the Bank of Canada (expected to cut 25 bps to 4.25%).
Final PMI data from Manufacturing sector (August)
- 8:15 AM BST, Spain, final manufacturing PMI for August. Expected 51.6 Previously. 51
- 8:30 AM BST, Switzerland, final manufacturing PMI for August. Expected 43.8 Previously. 43.4
- 8:45 AM BST Italy, final industry PMI for August. Expected 48.5 Previously. 47.4
- 8:50 AM BST, France, final industry PMI for August. Expected 44 Previously. 42.1
- 8:55 AM BST Germany, final industry PMI for August. Expected 43.2 Previously. 42.1
- 09:00 AM BST, Eurozone, final industry PMI for August. Expected 45.8 Previously. 45.6
- 09:00 AM BST, Italy final, quarterly GDP for Q2 2024. Expected 0.2% after 0.2% in previous reading
- 09:30 AM BST, UK final manufacturing PMI for August. Expected 52.5 Previously. 52.1
- 10:00 AM BST Italy, PPI inflation for August (down -2.5% y/y and up 0.7% m/m in July)
Central bankers' speeches
14:00 - ECB, Buch
Key reports of the week's companies
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Hewlett-Packard, Copart, C3.ai (Wednesday), Broadcom (Thursday)
Economic calendar: Canadian labor market and Michigan Index (06.02.2026)
🔵 ECB Press Conference (LIVE)
BREAKING: ECB maintains rates in line with expectations!💶
BREAKING: Bank of England holds rates as expected 📌 GBPUSD ticks down on dovish vote split 📉
