Markets are heading into the new week focused on U.S. macro data, with Friday’s August nonfarm payrolls report set to be the final major employment reading before the September 16 policy meeting. The release is expected to serve as a key test of the Federal Reserve policy path following Walsh’s hawkish remarks, after the U.S. dollar climbed to 99.69 and gained 0.85% on the week.
Rising Treasury yields and a stronger dollar pressured precious metals this week, with gold down 3.24% and spot silver off 3.82%. Before payrolls, investors will watch U.S. ISM manufacturing PMI, JOLTs job openings, ADP employment data, initial jobless claims, and the Fed’s Beige Book for signals on inflation and labor-market conditions.
The calendar also includes Eurozone CPI, unemployment, services PMI and PPI data, alongside appearances by Fed officials Waller and Hammack. In equities, Dell is scheduled to report second-quarter results on Tuesday, with the market expecting adjusted EPS of $4.91, while Broadcom is due to release third-quarter fiscal 2026 results on Wednesday.
U.S. August Jobs Report Seen as Key Test for September Fed Path
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