The start of October brings plenty of macro data for traders to analyse as high inflation and low growth continue to weigh heavily on central bankers' and politicians' minds.
ISM Manufacturing (1700 GMT+3) kicks off the week on Monday. It’s been below 50 since almost a full year, signalling a contraction. But the last few months were better than expected. 47.7 is the analysts' estimate for this month, so anything above this could be bullish for the US dollar.
The Reserve Bank of Australia, (Tuesday, 06:30 GMT+3), has maintained interest rates since June at 4.1%. As inflation is now down to 5.9% analysts do not expect an increase in this month. RBA is known to surprise the markets and has not ruled any future increases out.
Brent oil prices hit a record high of $95 per barrel last week, indicating that the volatility on the oil market is not going away. OPEC+ will meet on Wednesday, where it is expected that the cartel will continue its current production levels which have pushed up oil prices by 30% since last June.
Non-farm Payrolls and Unemployment data are released at 15:30 GMT+3 on Friday, where 160K and 3.7% are the analysts' expectations. With the Fed on hold, however, a high number could induce…