Economic calendar: US employment data in the spotlight 🔎

Yesterday's session was impacted by JOLTS data, which resulted in higher expectations of deeper rate cuts. European indices have ended the session lower.

Today's session will be influenced by ADP data. At the moment, futures indexes are pointing to a lower opening of the session on the Old Continent and Wall Street, which in part has to do with slightly worse sentiment in Asia. At the moment, the Hang Seng is losing 0.68% and the Nikkei 225 remains 0.25% in green.

Investor attention will turn to the employment data from the US. Eurozone construction PMI and retails sales data might also be worth following.

Detailed macro calendar (BST):

08:30 am - Various countries, Construction PMI for August:

• Italy. Earlier: 45.0
• France. Earlier: 39.7
• Eurozone. Earlier: 41.4
• Germany. Earlier: 40.0

09:30 am - UK, Construction PMI for August. Forecast: 54.5. Earlier: 55.3.

10:00 am - Eurozone, Retail Sales for August:

• YoY. Forecast: 0.2%. Earlier: -0.3%.
• MoM. Forecast: 0.2%. Earlier: -0.3%.

12:30 pm - USA, Challenger Layoffs for August. Earlier: 25.885k.

13:15 pm - USA, ADP Employment Change for August. Forecast: 143.5k. Earlier: 122k.

13:30 pm - Various US data:

• Initial Jobless Claims. Forecast: 230k. Earlier: 231k.
• Labor Costs Revised. Forecast: 0.8%. Earlier: 0.9%.
• Productivity Revised. Forecast: 2.5%. Earlier: 2.3%.
• Continued Jobless Claims. Forecast: 1.8685M. Earlier: 1.868M.

13:30 pm - Canada, Labor Productivity Rate. Forecast: -0.05%. Earlier: -0.3%.

14:45 pm - USA, S&P Services PMI Final for August. Forecast: 55. Earlier: 55.2.

• Composite PMI Final. Forecast: 53.9. Earlier: 54.1.

15:00 pm - USA, ISM Services PMI for August. Forecast: 51.4. Earlier: 51.4.

• Services Prices Paid. Forecast: 56. Earlier: 57.0
• Services New Orders. Earlier: 52.4
• Services Employment. Earlier: 51.1