Congress back Sep. 6 | Employment report Friday | Wx focus of ag markets
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With both political conventions concluded, political events turn to which states the two candidates visit. Lawmakers continue on their long recess, returning on Sep. 6. Economic reports for the week ahead has a big one, Friday’s Employment report. Monday reports include PMI Manufacturing Index, ISM Mfg Index, Construction Spending. Tuesday includes reports on motor vehicles sales and Personal Income and Outlays – Tuesday’s report also offers an update on the Federal Reserve’s preferred inflation gauge, the price index for personal-consumption expenditures. The ADP Employment Report is issued Wednesday, along with the PMI Services Index and ISM Non-Mfg Index. Thursday being the weekly Jobless Claims tally, along with Factory Orders. Besides the jobs report on Friday, the day’s reports include International Trade and Consumer Credit. Just one Federal Reserve official is speaking. On Monday, Dallas Federal Reserve Bank President Rob Kaplan speaks on monetary policy and the economy, in Beijing. On Thursday Kaplan speaks on monetary policy and the economy, in Shanghai, but it is being billed as a repeat of his Aug. 2 speech in Beijing. In the agriculture sector, weather events and forecasts are key as the month turns to August, especially for soybeans. Traders will see if USDA’s Crop Progress report on Monday will again hold corn and soybean good-to-excellent condition ratings, or slightly lower them. Monday also brings the grain crushings, cotton system, fats & oil and flour milling reports from USDA’s NASS. The weekly Broiler Hatchery report comes Wednesday. Thursday has the usually market-sensitive Weekly Export Sales report and this week also will see US Agricultural Trade Data, Farm Production Expenditures and Dairy Products report. Friday reports include Bioenergy Statistics, Cash Rents and Land Values.
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NOTE: This column is copyrighted material; therefore reproduction or retransmission is prohibited under U.S. copyright laws. |
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