Macro Mondays LIVE | US Data - Critical Week!

China saw its weakest manufacturing PMI data since February this week, with a fourth consecutive contraction. In the US, PCE inflation data came in below expectations, while Q2 GDP and consumer confidence came in higher. The Q2 GDP data is very backward looking, and this week’s U.S. PMIs and employment data are of critical importance - particularly with the next Federal Reserve central bank meeting on 18th September.

The Fed seems dovish, key data shows manufacturing and employment slumping, and private sector job creation has plunged to six-year lows while government jobs surge to all-time highs. Housing data also looks poor in both the US and China.

In equities, there's been a sharp increase in net short positions in the S&P 500, and Indian stocks are up for a record 13th straight day. UK shop prices are now in deflation, and German GDP has officially barely risen in six years. Hedge funds are bullish on gold, and coffee is reaching an all-time high. The team also discusses Central Bank OIS pricing, USDJPY, Brent, Nvidia, and more.

The key data releases this week are:

Tuesday:
-U.S. ISM mfg. PMI

Wednesday:
-JOLTS job openings
-Fed Beige book
-BOC rate decision

Thursday:
-Jobless claims
-ADP employment
-U.S. ISM services PMI

Friday:
-U.S. jobs report