To The Moon

Public Holidays

There are no public holidays in Singapore, Hong Kong, America, or Singapore in the coming week.

Economic Calendar (28Oct24)

Notable Highlights

• The most important macro data of the coming week would be the core PCE price index. This is the preferred indicator used by the Federal Reserve coming to inflation. If the figure remains heightened, may be required to review their coming interest rate decisions.

• There are a few important job-related data that will be released, starting with JOLTS job openings which reported 8.04 million jobs in the previous report. The other important job-related data will include the ADP non-farm employment change, average hour earnings, nonfarm payrolls for October, and unemployment rates. These figures would be part of the consideration by the Federal Reserve coming to the next interest rate decision.

• Manufacturing PMI for China should demand some of our attention. If the index falls under 50, this implies a contraction in manufacturing. While this has a direct implication for China, this would also imply the strength of global demand.

• Chicago PMI, ISM manufacturing PMI, ISM manufacturing prices and S&P Global US manufacturing PMI would provide good insights into the manufacturing sector and the inflation they face in the prices.

• CB consumer confidence will be released. A number under 100 implies a less than positive sentiment towards the economy. Sentiment can drive the market more than data.

• Initial jobless claims will be announced. The Federal Reserve uses this as one of the key macro data references as it balances inflation and employment in the economy.

• Crude Oil Inventories can be seen as forward indicators of market demand and consumption. If the trend of excess inventories continues, demand erosion can lead to reduced production & weakening consumer spending.

@TigerStars

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