Let's take a look at the most important events that interested us last week. This week will be a busy one, mainly through the 4 central bank meetings and the US election.
USD
Thursday's U.S. jobless claims fell to 216,000, below market estimates. The drop reinforced the view that the US labour market remains resilient in the face of higher interest rates and that the central bank could refrain from cutting rates.
But that view changed on Friday, as the US economy added only 12,000 new jobs (NFP) in October, well below the revised 223,000. This is the lowest gain since December 2020. The unemployment rate remained at 4.1 % as estimated. Overall wage growth slowed. This could be explained by the impact of the hurricanes, so the market will be forgiving of this data. The market is now pricing in a 99% rate cut in November.
What's in store for us this week?
Monday: PMI (Eurozone, Spain, France, Germany, Australia)
Tuesday: the Reserve Bank of Australia (RBA) meeting, Swiss unemployment rate, UK and US PMIs, New Zealand labour market data
Wednesday: PMI (Japan, Eurozone, France, Spain, Germany, UK, Canada), Eurozone PPI index
Thursday: PMI (Eurozone, Germany), Eurozone retail sales, Bank of England meeting, US unemployment claims, CNB meeting, FOMC meeting
Friday: Canadian labour market data
Most of the time, interest rates are the most important thing we should be concerned about. But this week, that won't be entirely true. The market will focus on the US presidential election. That will be the main event of the week. This week will be divided into three phases: pre-election noise, the election and post-election trading.
Sources:
English 
Czech 
Polish