Economic calendar: labor market data from the US as key economic reports this week📄

This week, the most important macroeconomic reports attracting market attention will be US labor market reports. On Wednesday, the ADP report will be released, and on Friday, the NFP (Non-Farm Payrolls). Additionally, today will see the publication of PMI manufacturing reports from the US, Eurozone countries, and Canada.

Analyst expectations for PMI reports suggest lower readings in Eurozone countries, with reports expected to remain well below the 50-point threshold. Conversely, PMI and ISM readings from the US are expected to show improvement compared to the previous month (October).

Labor market publications on Wednesday and Friday will be closely monitored by the market as these will be the last reports before the next FOMC decision in mid-December. Expectations point to an improvement in employment compared to October's readings, particularly in the case of the NFP. Employment change is expected to rise to 195k, a significant improvement from the previous month's 12k. However, the low figure in the previous month was reportedly influenced by one-time factors, such as hurricanes.

Detailed weekly calendar:

02 December, Monday:

• All day - PMI data for industry (major world economies)
• 00:30 AM GMT - Australia, retail sales for November
• 01:45 AM GMT - China, Caixin PMI data for industry for November
• 03:00 PM GMT - USA, ISM PMI data for industry for November

03 December, Tuesday:

• 07:30 AM GMT - Switzerland, CPI data for November
• 03:00 PM GMT - USA, JOLTS data for October
• 09:40 PM GMT - USA, API crude oil inventory survey data

04 December, Wednesday: 

• All day - PMI data for services (major world economies)
• 00:30 AM GMT - Australia, Q3 GDP data
• 10:00 AM GMT - Eurozone, PPI data for November
• 01:00 PM GMT - Eurozone, Lagarde speech 
• 01:15 PM GMT - USA, ADP data for November
• 03:00 PM GMT - USA, ISM data for services for November
• 03:00 PM GMT - USA, durable goods orders for October
• 03:30 PM GMT - DOE oil inventories report
• 06:45 PM GMT - USA, Powell speech 

05 December, Thursday:

• 07:00 AM GMT - Germany, factory orders for October
• 10:00 AM GMT - Eurozone, retail sales for October
• 00:30 PM GMT - USA, Challenger report for November
• 01:30 PM GMT - USA, jobless claims
• 03:30 PM GMT - USA, change in natural gas inventories 

06 December, Friday:

• All day - Fed bankers' speeches
• 07:00 AM GMT Germany, industrial production for October
• 10:00 AM GMT - Eurozone, GDP report for Q3
• 01:30 PM GMT - USA, NFP data for November
• 01:30 PM GMT - Canada, labour market data for November
• 03:00 PM GMT - USA, UoM data for December