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Traders eye US job openings as euro inflation and China PMIs loom
The US JOLTS report will be watched as a key labor-demand signal, after July job openings per unemployed person hit the highest level since January 2025.
Action Forex said attention is shifting to the US release of August Job Openings and Labour Turnover Survey, or JOLTS, which it noted is closely monitored by the Fed as an indicator of labor demand. It added that July job openings per unemployed person reached the highest level since January 2025.
In the euro area, the outlet said focus is on Spain’s September flash inflation print, which it described as the first read on where Friday’s euro area data may land. It expects headline inflation to rise modestly on higher energy costs, with a small increase in core inflation.
Action Forex also pointed to the European Commission’s business survey for September, with attention on firms’ selling price expectations. It said in China, markets will look to September PMIs, expecting both manufacturing readings to be broadly unchanged and supported by strong exports and high-tech investment.
The outlet further flagged developments outside the US and Europe, including Reserve Bank of Australia action, which it said hiked the cash rate by 25 basis points to 4.60%.