As the third quarter ends, the focus this coming week will be on the September jobs report, which could deliver proof that employment is improving enough to justify the Fed’s move away from stimulus.
So, even with no Fed action or meeting on the near horizon, the week ahead is also about the Fed and its anticipated tightening regime versus other central banks. The European Central Bank meets Thursday and is expected to provide more details about its asset purchase program as the Fed moves away from bond buying—a phenomena that has helped give the dollar index a record 11 straight weeks of gains.
Economists expect to see about 215,000 nonfarm payrolls added in Friday’s September jobs report, after August’s disappointing 142,000—the first sub-200,000 report in seven months.
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