Key Upcoming Events

  • Monday: US S&P Global Manufacturing PMI Final for October.
  • Tuesday: Speech by San Francisco Federal Reserve President Mary Daly, JOLTs Job Openings for September.
  • Wednesday: US ADP Employment Change for October.
  • Thursday: US Initial Jobless Claims for the week ending November 1st.
  • Friday: Series of speeches from Fed officials and monetary policy data releases.
The week commenced with a series of potential risks, which, through concerted efforts, were mitigated, temporarily shifting market sentiment to positive territory. The Federal Reserve's hawkish outlook benefited the dollar, pushing the Dollar Index to a two-month high. The 'Magnificent Seven' US tech companies all delivered positive earnings reports and forward-looking statements, allowing the artificial intelligence boom to continue its momentum. The coming week will witness a significant influx of US private sector data. Specifically, the typically overlooked JOLTs job openings and Challenger job cuts data will receive due attention, but understandably, all eyes will be focused on the two ISM surveys and the ADP employment report. A string of weak data releases next week would reignite market expectations for a December rate cut. Additional Analysis: Investors should also monitor geopolitical developments and any unexpected statements from Fed officials, as these factors could significantly impact market sentiment.

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