This week is poised to be a pivotal period for financial markets, with a slew of US economic data, crucial tech earnings reports, and ongoing developments leading up to the US election all set to play significant roles. Last week’s relative calm may have just been the precursor to what could be a decisive fortnight for both the US economy and global markets. Key employment figures are anticipated, with traders closely monitoring these after last month’s robust results shifted expectations for the Federal Reserve. Adding complexity, earnings updates from five of the ‘Magnificent 7’ tech giants, a competitive race for the White House, key economic data from other major regions, and an interest rate decision from the Bank of Japan make for a busy and impactful week.

Here’s a day-by-day breakdown of the major risk events:

Monday, October 28, 2024:

• Geopolitical Updates:
  • Japan’s Lower House elections
  • Statement from Bank of Canada Governor Tiff Macklem
• Market Impact: Limited scheduled events; smoother trading conditions expected.

Tuesday, October 29, 2024:

• London Session:
  • Bank of England’s Monetary Policy Report Hearings
• US Session:
  • CB Consumer Confidence data
  • JOLTS Job Openings data
  • Alphabet’s earnings report

Wednesday, October 30, 2024:

• Asian Session:
  • Australia’s CPI data
• European Session:
  • Germany’s CPI data
  • Spain’s Flash CPI data
• US Session:
  • GDP figures
  • ADP Non-Farm Employment numbers
  • Earnings reports from Facebook and Microsoft

Thursday, October 31, 2024:

• Asian Session:
  • Australian Retail Sales data
  • Chinese Manufacturing and Non-Manufacturing PMI figures
  • Bank of Japan rate decision
• US Session:
  • PCE Price Index
  • Employment Cost Index
  • Weekly Unemployment Claims
  • Chicago PMI numbers
  • Earnings reports from Amazon and Apple

Friday, November 1, 2024:

• Asian Session:
  • Limited scheduled events
• European Session:
  • Switzerland’s CPI update
• US Session:
  • US Non-Farm Payrolls (forecasted 111k increase)
  • Average Hourly Earnings (expected 0.3% rise)
  • Unemployment Rate (anticipated steady at 4.1%)