05 Nov, 13:30 UTClabourMedium
Unit Labour Costs QoQ (Q3)
ACT -0.7%EST 0.6%PREV 1.9%-18
-0.7% vs 0.6% est and 1.9% prev; unit labour costs fell, easing wage pressure but hinting softer labour momentum.
USD view-32
-0.7% vs 0.6% est, 1.9% prev; softer labour data weakens USD via rate expectations; no acute-risk offset.
05 Nov, 13:30 UTCgrowthMedium
Nonfarm Productivity QoQ (Q3)
ACT 3.6%EST 2.8%PREV 2.1%+38
3.6% vs 2.8% est and 2.1% prev; productivity improved and supports healthier output.
USD view+34
3.6% vs 2.8% est, 2.1% prev; stronger activity supports USD via growth/rate expectations; no acute-risk offset.
05 Nov, 13:30 UTClabourMedium-High
Initial Jobless Claims (Oct/31)
ACT 189KEST 196KPREV 195K+18
189K vs 196K est, 195K prev; initial claims remain consistent with a healthy labour market.
USD view+16
189K vs 196K est, 195K prev; firmer labour data supports USD via rate expectations; no acute-risk offset.
04 Nov, 17:00 UTCgrowthMedium
Atlanta Fed GDPNow (Q4)
ACT 3.4%EST 3.7%PREV 3.7%+18
3.4% was below 3.7% est and 3.7% prev; growth is easing but still solid.
USD view-28
3.4% vs 3.7% est, 3.7% prev; weaker activity weakens USD via growth/rate expectations; no acute-risk offset.
04 Nov, 15:00 UTCgrowthHigh
ISM Services PMI (Oct)
ACT 54.5EST 54.8PREV 54.9+30
54.5 vs 54.8 est, 54.9 prev; the PMI remains clearly above the 50 expansion threshold.
USD view-9
54.5 vs 54.8 est, 54.9 prev; weaker activity weakens USD via growth/rate expectations; no acute-risk offset.
04 Nov, 15:00 UTCinflationMedium
ISM Non-Manufacturing Prices (Oct)
ACT 73EST 75PREV 74-58
73 vs 75 est and 74 prev; prices eased a bit but remain extremely elevated.
USD view-15
73 vs 75 est, 74 prev; softer inflation lowers rate expectations and weakens USD; no acute-risk offset.
04 Nov, 15:00 UTClabourMedium
ISM Non-Manufacturing Employment (Oct)
ACT 51.4EST 50PREV 50.1+18
51.4 vs 50 est and 50.1 prev; employment in services improved modestly and stays expansionary.
USD view+18
51.4 vs 50 est, 50.1 prev; firmer labour data supports USD via rate expectations; no acute-risk offset.
04 Nov, 14:45 UTCgrowthHigh
S&P Global Services PMI (Oct)
ACT 56.1 PointsEST 57.9 PointsPREV 58.8 Points+38
56.1 Points vs 57.9 Points est, 58.8 Points prev; the PMI remains clearly above the 50 expansion threshold.
USD view-36
56.1 Points vs 57.9 Points est, 58.8 Points prev; weaker activity weakens USD via growth/rate expectations; no acute-risk offset.
04 Nov, 14:45 UTCgrowthMedium
S&P Global Composite PMI (Oct)
ACT 55.9 PointsEST 57.6 PointsPREV 58.4 Points+38
55.9 Points vs 57.6 Points est, 58.4 Points prev; the PMI remains clearly above the 50 expansion threshold.
USD view-38
55.9 Points vs 57.6 Points est, 58.4 Points prev; weaker activity weakens USD via growth/rate expectations; no acute-risk offset.
04 Nov, 13:30 UTCexternalMedium-Low
Balance of Trade (Sep)
ACT -105BEST -108BPREV -105.6B-20
-105B was slightly better than -108B est but near -105.6B prev; trade remains weak.
USD view+18
-105B vs -108B est, -105.6B prev; a better external surprise supports USD; no acute-risk offset.
04 Nov, 13:15 UTClabourMedium-High
ADP Employment Change (Oct)
ACT 86KEST 69KPREV 90K+18
86K vs 69K est and 90K prev; hiring stays solid though slightly slower.
USD view+18
86K vs 69K est, 90K prev; firmer labour data supports USD via rate expectations; no acute-risk offset.
03 Nov, 15:00 UTClabourHigh
JOLTs Job Openings (Sep)
ACT 7.523MEST 7.1MPREV 7.19M+24
7.523M vs 7.1M est and 7.19M prev; openings improved, supporting labour health.
USD view+22
7.523M vs 7.1M est, 7.19M prev; firmer labour data supports USD via rate expectations; no acute-risk offset.
03 Nov, 15:00 UTCgrowthMedium
Factory Orders MoM (Sep)
ACT 1.8%EST 1.2%PREV 0.1%+34
1.8% vs 1.2% est, 0.1% prev; factory orders strengthened, supporting growth breadth.
USD view+32
1.8% vs 1.2% est, 0.1% prev; stronger activity supports USD via growth/rate expectations; no acute-risk offset.
03 Nov, 15:00 UTCgrowthMedium
Durable Goods Orders Ex Transp MoM (Sep)
ACT 0.5%EST 0.5%PREV 0.5%+12
0.5% matched 0.5% est and 0.5% prev; durable goods growth is steady and mildly healthy.
USD view0
0.5% matched estimate and prior, so durable goods orders create no material new USD repricing.
03 Nov, 15:00 UTCgrowthHigh
Durable Goods Orders Ex Defense MoM (Sep)
ACT 2.3%EST 2.2%PREV 2.2%+14
2.3% vs 2.2% est, 2.2% prev; durable goods growth is slightly firmer and supportive of output.
USD view+12
2.3% vs 2.2% est, 2.2% prev; stronger activity supports USD via growth/rate expectations; no acute-risk offset.
02 Nov, 15:00 UTCinflationMedium
ISM Manufacturing Prices (Oct)
ACT 75.2EST 77PREV 77.9-62
75.2 vs 77 est and 77.9 prev; price pressures eased but remain very elevated.
USD view-14
75.2 vs 77 est, 77.9 prev; softer inflation lowers rate expectations and weakens USD; no acute-risk offset.
02 Nov, 15:00 UTCgrowthHigh
ISM Manufacturing PMI (Oct)
ACT 55.5EST 54.6PREV 54.5+58
55.5 vs 54.6 est, 54.5 prev; the PMI remains clearly above the 50 expansion threshold.
USD view+34
55.5 vs 54.6 est, 54.5 prev; stronger activity supports USD via growth/rate expectations; no acute-risk offset.
02 Nov, 15:00 UTClabourMedium
ISM Manufacturing Employment (Oct)
ACT 52.4EST 53PREV 52.7+18
52.4 vs 53 est and 52.7 prev; employment stayed expansionary but eased slightly.
USD view-16
52.4 vs 53 est, 52.7 prev; softer labour data weakens USD via rate expectations; no acute-risk offset.
02 Nov, 14:45 UTCgrowthMedium
S&P Global Manufacturing PMI (Oct)
ACT 54.9 PointsEST 56 PointsPREV 55.9 Points+42
54.9 Points vs 56 Points est, 55.9 Points prev; the PMI remains clearly above the 50 expansion threshold.
USD view-33
54.9 Points vs 56 Points est, 55.9 Points prev; weaker activity weakens USD via growth/rate expectations; no acute-risk offset.
31 Oct, 15:00 UTCgrowthMedium
Atlanta Fed GDPNow (Q4)
ACT 3.3%EST 3.2%PREV 3.4%+14
3.3% vs 3.2% est and 3.4% prev; growth is still solid, though slightly slower.
USD view+12
3.3% vs 3.2% est, 3.4% prev; stronger activity supports USD via growth/rate expectations; no acute-risk offset.
30 Oct, 13:45 UTCgrowthMedium
Chicago PMI (Oct)
ACT 55.3EST 56.1PREV 58.8+18
55.3 vs 56.1 est and 58.8 prev; growth is still expansionary but momentum cooled.
USD view-9
55.3 vs 56.1 est, 58.8 prev; weaker activity weakens USD via growth/rate expectations; no acute-risk offset.
30 Oct, 12:30 UTClabourMedium
Employment Cost Index QoQ (Q3)
ACT 0.8%EST 0.8%PREV 0.9%+8
0.8% matched estimate and eased from 0.9%; wage growth is still a bit firm but cooling.
USD view0
0.8% matched estimate and fell from 0.9%; no new macro repricing from the payroll-cost print.
30 Oct, 12:30 UTClabourMedium
Employment Cost - Wages QoQ (Q3)
ACT 0.7%EST 0.8%PREV 0.9%+8
0.7% was below 0.8% est and 0.9% prev; wage growth is easing but remains near solid levels.
USD view-14
0.7% vs 0.8% est, 0.9% prev; softer labour data weakens USD via rate expectations; no acute-risk offset.
30 Oct, 12:30 UTClabourMedium
Employment Cost - Benefits QoQ (Q3)
ACT 0.9%EST 0.7%PREV 1%-6
0.9% vs 0.7% est, 1.0% prev; benefits still rose, but only modestly above trend.
USD view+18
0.9% vs 0.7% est, 1% prev; firmer labour data supports USD via rate expectations; no acute-risk offset.
29 Oct, 15:00 UTCgrowthMedium
Atlanta Fed GDPNow (Q4)
ACT 3.2%EST —PREV 3.3%+12
3.2% vs 3.3% prev; growth stays solid, with only a slight slowdown from an already healthy pace.
USD view+4
3.2% vs 3.3% prev; no estimate, so the small change gives a slight USD-positive growth signal.
29 Oct, 12:30 UTCconsumerMedium
Real Consumer Spending QoQ (Q3)
ACT 3.8%EST 3.9%PREV 3.8%+18
3.8% vs 3.9% est and 3.8% prev; resilient consumer demand stays slightly above trend.
USD view-6
3.8% vs 3.9% est, 3.8% prev; weaker demand weakens USD via growth/rate expectations; no acute-risk offset.
29 Oct, 12:30 UTCconsumerMedium-High
Personal Spending MoM (Sep)
ACT 0.5%EST 0.6%PREV 0.9%+16
0.5% vs 0.6% est, 0.9% prev; spending slowed but stays resilient and above trend.
USD view-16
0.5% vs 0.6% est, 0.9% prev; weaker demand weakens USD via growth/rate expectations; no acute-risk offset.
29 Oct, 12:30 UTCconsumerMedium
Personal Income MoM (Sep)
ACT 0.2%EST 0.3%PREV 0.3%0
0.2% was below 0.3% est and 0.3% prev; income growth is softer but still near a sustainable pace.
USD view-14
0.2% vs 0.3% est, 0.3% prev; weaker demand weakens USD via growth/rate expectations; no acute-risk offset.
29 Oct, 12:30 UTCinflationHigh
PCE Price Index YoY (Sep)
ACT 3.6%EST 3.6%PREV 3.4%-58
3.6% vs 3.6% est, 3.4% prev; inflation remains clearly above the roughly 2% price-stability benchmark despite any improvement.
USD view0
3.6% matched 3.6% est and 3.4% prev; the expected print creates no new USD repricing.
29 Oct, 12:30 UTCinflationHigh
PCE Price Index MoM (Sep)
ACT 0.5%EST 0.5%PREV 0.3%-44
0.5% vs 0.5% est, 0.3% prev; the monthly inflation pace is far too hot for sustainable price stability.
USD view0
0.5% matched estimate and prior rose to 0.3%; no new USD repricing from the release.
29 Oct, 12:30 UTClabourMedium-High
Initial Jobless Claims (Oct/24)
ACT 194KEST 199KPREV 195K+14
194K vs 199K est, 195K prev; initial claims remain consistent with a healthy labour market.
USD view+14
194K vs 199K est, 195K prev; firmer labour data supports USD via rate expectations; no acute-risk offset.
29 Oct, 12:30 UTCinflationMedium
GDP Price Index QoQ (Q3)
ACT 2.2%EST 3.2%PREV 6.1%+28
2.2% vs 3.2% est and 6.1% prev; inflation cooled toward sustainable price stability.
USD view-42
2.2% vs 3.2% est, 6.1% prev; softer inflation lowers rate expectations and weakens USD; no acute-risk offset.
29 Oct, 12:30 UTCgrowthHigh
GDP Growth Rate QoQ (Q3)
ACT 3.4%EST 3.2%PREV 2.2%+48
3.4% vs 3.2% est and 2.2% prev; growth is solid and accelerating.
USD view+24
3.4% vs 3.2% est, 2.2% prev; stronger activity supports USD via growth/rate expectations; no acute-risk offset.
29 Oct, 12:30 UTCinflationVery-High
Core PCE Price Index YoY (Sep)
ACT 3.1%EST 3.1%PREV 3%-44
3.1% vs 3.1% est, 3% prev; inflation remains clearly above the roughly 2% price-stability benchmark despite any improvement.
USD view0
3.1% matched 3.1% est and 3.0% prev; no surprise, so there is no new USD impulse.
29 Oct, 12:30 UTCinflationVery-High
Core PCE Price Index MoM (Sep)
ACT 0.3%EST 0.3%PREV 0.3%+18
0.3% vs 0.3% est, 0.3% prev; the monthly inflation pace is consistent with sustainable price stability.
USD view0
0.3% matched estimate and prior; the expected print creates no new USD repricing.
28 Oct, 18:00 UTCmonetaryVery-High
Fed Interest Rate Decision
ACT 4%EST 4%PREV 4%0
4% matched estimate and previous; policy looks stable and predictable rather than changing branch health.
USD view0
4% matched estimate and previous; no new repricing, so the Fed decision creates no material USD impulse.
28 Oct, 15:00 UTCgrowthMedium
Atlanta Fed GDPNow (Q4)
ACT 3.3%EST —PREV 3.4%+18
3.3% vs 3.4% prev; growth stays solid but is slightly slower, so health is mildly positive.
USD view-6
3.3% slipped from 3.4%; the tiny slowdown slightly trims growth expectations, with no risk channel.
28 Oct, 12:30 UTCgrowthMedium
Retail Inventories Ex Autos MoM (Sep)
ACT 0.4%EST -0.1%PREV 0.1%+18
0.4% vs -0.1% est and 0.1% prev; inventories rose and the trend is still firm.
USD view+16
0.4% beat -0.1% and 0.1%; firmer inventory buildup slightly supports USD via growth.
27 Oct, 17:00 UTCmonetaryMedium-Low
M2 Money Supply (Sep)
ACT 23.41EST 23.4PREV 23.34+8
23.41 vs 23.4 est and 23.34 prev; money supply is broadly stable with a slight rise.
USD view0
23.41 matched 23.4 est and was up from 23.34; the tiny surprise and trend imply no material USD repricing.
27 Oct, 15:45 UTCgrowthMedium
Atlanta Fed GDPNow (Q3)
ACT 3.4%EST 3.5%PREV 3.5%+18
3.4% vs 3.5% est, 3.5% prev; growth is still solid but a touch softer.
USD view-12
3.4% vs 3.5% est, 3.5% prev; weaker activity weakens USD via growth/rate expectations; no acute-risk offset.