WEEK UPCOMING

 
 Though the week ahead will be abbreviated owing to the holiday, there's still some important items on the agenda, much of it having to do with Germany and it's slowdown. The outlook for a full blown QE program seems to be on investors minds in some cases as a fait accompli. Draghi pushed closer to now or never decision when ECB meets.

There's also some Fed speak scheduled along with Non-farm payrolls and Unemployment rate.

Monday, September 1

US Economics (Time Zone: EDT)

US markets closed for Labor Day holiday
11:00 Fed selling $1.75b-$2.25b Treasuries in 25 to 30-year range

Global Economics (Time Zone: GMT)

JPY Capital Spending, Company Profits
01:00 CNY Manufacturing PMI (Aug)
06:00 EUR German GDP (2Q final)
08:00 EUR Eurozone Manufacturing PMI (Aug final)
08:30 GBP Net Consumer Credit
08:30 GBP UK Manufacturing PMI

Earnings

No reports

Tuesday, September 2

US Economics (Time Zone: EDT)

10:00 ISM Manufacturing (Aug) - expected 57.0, prior 57.1
10:00 ISM Prices Paid - exp 59.0, prior 59.5
10:00 Construction Spending MoM (Jul) - exp 0.8%, prior -1.8%
11:00 Fed purchasing $1.5b-$2b notes in 10 to 20-year range
11:30 Treasury to sell $28b 3-month bills, $24b 6-month bills, $15b 11-day CMB

Global Economics (Time Zone: GMT)

01:30 AUD Building Approvals
04:30 AUD RBA Rate Decision
05:45 CHF GSP (2Q)
08:30 GBP UK Construction PMI
09:00 EUR Eurozone Producer Prices

Earnings

Before:
Conn's (CONN)

Wednesday, September 3

US Economics (Time Zone: EDT)

07:00 MBA Mortgage Purchase Index
09:45 ISM New York
10:00 Factory Orders (Jul) - expected 10.8%, prior 1.1%
5:00 Total Vehicle Sales (Aug) - expected16.60M, prior 16.40M
5:00 Domestic Vehicle Sales - exp 13.20M, prior 12.95M
11:00 Fed to buy $1.75b-$2.25b Treasuries in 25 to 30-year range
11:30 Treasury to sell 4-week bills

Global Economics (Time Zone: GMT)

RBA's Stevens speaks in Adelaide
01:00 CNY Non-manufacturing PMI (Aug)
01:30 AUD GDP (2Q)
01:35 JPY Japan Services PMI
01:45 CNY HSBC China Services PMI (Aug)
08:30 GBP UK Services PMI
09:00 EUR Eurozone Retail Sales MoM (Jul)
09:00 EUR Eurozone GDP (2Q prelim)
14:00 CAD Bank of Canada Rate Decision

Earnings

Before:
Toll Brothers (TOL)

After:
H&R Block (HRB)
PVH Corp (PVH)

Thursday, September 4

US Economics (Time Zone: EDT)

07:30 Challenger Job Cuts - prior 24.4%
08:15 ADP Private Payrolls (Aug) - expected 220K, prior 218K
08:30 Initial Jobless Claims - expected 300K, prior 298K
08:30 Continuing Claims - prior 2527K
10:00 ISM Services (Aug) - exp 57.5, prior 58.7
11:00 Fed to purchase $4.25b-$5.25b Treasuries in 8 to 10-year range

Fedspeak

12:30pm Mester (presumed hawk, voter) speaks in Pittsburgh
8:15pm Fisher (hawk, voter) speaks in Dallas
9:00pm Kocherlakota (dove, voter) speaks in Montana

Global Economics (Time Zone: GMT)

01:30 AUD Trade Balance and Retail Sales
06:00 EUR German Factory Orders
07:30 EUR German Construction PMI
11:00 GBP Bank of England Rate Decision
11:45 EUR ECB Rate Decision

Earnings

Before:
Joy Global (JOY)
Ciena (CIEN)
Mattress Firm (MFRM)

After:
Quiksilver (ZQK)
Finisar (FNSR)
El Pollo Loco (LOCO)

Friday, September 5

US Economics (Time Zone: EDT)

08:30 Nonfarm Payrolls (Aug) - expected 225K, prior 209K
08:30 Private Payrolls - exp 205K, prior 198K
08:30 Manufacturing Payrolls - exp 20K, prior 28K
08:30 Unemployment Rate - exp 6.1%, prior 6.2%
08:30 Average Hourly earnings YoY - exp 2.1%, prior 2.0%
08:30 Average Weekly Hours - exp 34.5, prior 34.5

Fedspeak

3:45pm Rosengren (moderate, nonvoter) speaks in Boston

Global Economics (Time Zone: GMT)

05:00 JPY Leading Index (Jul prelim)
06:00 EUR German Industrial Production

Earnings

No major reports scheduled


Twitter: @MichaelSedacca