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A busy, holiday-shortened week for markets: Asia and Europe host a string of final PMI prints and regional data early in the week, while the focus shifts to U.S. employment and other high-impact releases late in the week that could steer Fed expectations. Liquidity may be thinner around the U.S. Labor Day holiday, so headline surprises could create outsized moves in major FX pairs.


📅 Monday, 1 September 2025

  • Global market holiday notes / reduced liquidity in certain markets (U.S. holiday / early week thin volumes in some markets).
  • Preliminary / final manufacturing PMI releases and flash data across Europe (France, Germany, Italy, Spain) and consolidated Eurozone final manufacturing PMI.
  • UK: Final Manufacturing PMI and other PMI sector breaks (services/comp) where released.
  • Switzerland: Manufacturing PMI and Swiss retail/industrial micro-data.
  • Australia: Commodity prices / commodity-price index prints or monthly indicators.
  • Japan / Asia: country-level manufacturing and services PMI releases, and assorted regional releases (retail, machinery orders).
  • Calendar note: many brokers publish a consolidated Monday calendar with local times.


📅 Tuesday, 2 September 2025

  • Eurozone / EU: Sector PMIs (final or flash) and country-level PMIs continue; possible updates to unemployment rates or manufacturing sub-components.
  • Switzerland: Retail Sales (m/m) for July.
  • Romania / Eastern Europe: PPI (y/y and m/m) and various regional activity indicators.
  • UK: Nationwide HPI m/m (house-price index).
  • Australia: Commodity Prices (y/y) series.
  • US: some early week indicators or Fed-adjacent speeches may appear.


📅 Wednesday, 3 September 2025

  • Eurozone: Final composite / services PMI prints and country breakdowns (France, Germany, Italy, Spain).
  • UK: Final Services PMI and housing market data may appear.
  • US: ISM/Factory orders / durable goods-type data sometimes fall midweek.
  • Market commentary: corporate earnings seasons and major tech/AI earnings may influence risk sentiment.


📅 Thursday, 4 September 2025

  • Europe: continued PMI / survey follow-ups and regional economic microprints (industrial production slices, labor market tidbits).
  • UK / BoE-adjacent data: possible labour market snippets or regional indicators.
  • US: select business surveys, trade balance, or durable goods backlogs may be scheduled.
  • Note: thin liquidity may persist as the week closes in some markets ahead of Friday’s major U.S. employment print.


📅Friday, 5 September 2025

  • U.S. Employment situation / Nonfarm Payrolls (NFP) / Unemployment Rate / Average Hourly Earnings — the marquee release of the week and key for USD and global rates.
  • Canada / Mexico / LatAm: potential domestic employment or trade prints in North/South America scheduled the same day.
  • US: other monthly aggregates (participation rate, revisions, etc.) released alongside payrolls and wage measures.
  • End-of-week risk rebalancing and positioning ahead of next week’s central-bank calendar — expect quick intraday moves in FX pairs on any surprise.


Ongoing / cross-week items to monitor (throughout Sep 1–5)

Central bank speakers: any scheduled comments by Fed, BoE, ECB, or other central bank officials.

Holiday / market hours: confirm local market holidays and early closes (U.S. Labor Day observances can produce lighter volumes).

Earnings and macro headlines: large corporate earnings and geopolitical headlines can shift risk sentiment and therefore FX volatility.


Notes & context

  • PMI release times vary by country; S&P Global keeps a unified schedule and final updates confirm earlier “flash” prints for major economies.
  • The clustering of U.S. releases Tue–Fri reflects the Sept. 1 Labor Day closure.
  • Australia’s Q2 GDP appears on official ABS calendars Thu, Sep 4, 11:30 AEST (late Wed UTC for some vendor calendars), so traders in Asia will see it Thursday local.

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