The Week Ahead – Week Commencing 02 November 2026
It is a quiet start to the week on Monday, with little on the calendar across all three trading sessions. US ISM Manufacturing PMI will draw some attention early in the New York session; however, traders are expecting geopolitics to dominate for most of the day.
Things start to heat up on the economic calendar on Tuesday. The Asian session will see a strong focus on Australian markets, with the RBA set to make its latest rate call. A 25-basis-point hike looks to be almost a certainty. Swiss CPI data is due out early in the London session; however, the US session is likely to be the busiest, with the key midterm elections taking place, as well as the first US jobs number of the week, the JOLTS Job Openings data, being released. We also hear from Bank of Canada Governor Tiff Macklem later in the day.
The Asian session will see an early focus on New Zealand markets, with the latest employment data due out, while the London session features the EU Flash CPI data shortly after the open. The US day should see the results of the midterms confirmed, as well as the latest ISM Services PMI data and the weekly Crude Oil Inventory numbers.
It is a quieter Asian session on Thursday, but UK markets will be a strong focus in the London session, with the Bank of England set to make its latest interest rate call. The New York session sees the release of the weekly unemployment claims numbers, as well as another scheduled testimony from Bank of Canada Governor Tiff Macklem when he speaks in Ottawa.
It is Non-Farm Payrolls day on Friday, and all the action is reserved for the final session of the day. The key US employment data is due out early in the day, alongside Canadian employment figures. Canadian Ivey PMI data is also due out later in the day, along with the Preliminary University of Michigan data; however, as always, the US employment data is likely to dominate sentiment into the weekend.
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