Reserve Bank of Australia

Key events: Australia - RBA Interest Rate Decision (Nov) USA - US Presidential Election USA - S&P Global Services PMI (Oct) USA - ISM Non-Manufacturing PMI (Oct) USA - ISM Non-Manufacturing Prices (Oct) USA - 10-Year Note Auction As the week kicked off, US markets took a cautious stance, with the S&P 500 ending Monday in the red. Investors are bracing for two major events: the presidential election on Tuesday and the Federal Reserve’s upcoming rate decision.

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Key events: USA - ADP Nonfarm Employment Change (Sep) USA - Crude Oil Inventories The S&P 500 declined on Tuesday as investors moved away from riskier assets due to escalating concerns over a broader Middle East conflict, following Iran's launch of multiple missiles targeting Israel. The Dow Jones Industrial Average dropped 173 points, or 0.4%, while the S&P 500 fell 1% and the NASDAQ Composite slid 1.5%.

Key events: Australia - RBA Interest Rate Decision (Sep) USA - CB Consumer Confidence (Sep) US stocks closed higher on Monday as investors paused near record highs, awaiting further signals from the Federal Reserve. The Dow Jones Industrial Average gained 0.15%, the S&P 500 rose 0.28%, and the NASDAQ Composite, which focuses on tech stocks, increased by 0.14%.

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Key events: USA - Durable Goods Orders (MoM) (Jul) US stocks surged on Friday as Treasury yields dropped following Federal Reserve Chair Jerome Powell's hints at upcoming rate cuts. The S&P 500 increased by 1.1%, resulting in a 1.5% weekly gain. Meanwhile, the Dow Jones Industrial Average jumped by 462 points, or 1.1%, and the NASDAQ Composite rose by 1.5%.

Key events: USA - Average Hourly Earnings (MoM) (Jul) USA - Nonfarm Payrolls (Jul) USA - Unemployment Rate (Jul)  The S&P 500 started August under significant pressure on Thursday as softer economic data rekindled recession concerns. The Dow Jones Industrial Average dropped 669 points or 1.6%, the S&P 500 fell 2.8%, and the NASDAQ Composite decreased 2.8%.

Key events: USA - CB Consumer Confidence (Jul) USA - JOLTs Job Openings (Jun) The S&P 500 closed higher on Monday in anticipation of upcoming tech earnings and the Federal Reserve meeting later this week. The S&P 500 had risen 0.1%, the NASDAQ Composite also increased by 0.1%, while the Dow Jones Industrial Average dropped by 49 points, or 0.1%.

Key events: UK - CPI (YoY) (Jun) Eurozone - CPI (YoY) (Jun) USA - Crude Oil Inventories The Dow had its best day in over a year on Tuesday, closing at fresh record highs, buoyed by better-than-expected retail sales data and a series of mostly positive quarterly earnings reports.

Key events: USA - NY Fed 1-Year Consumer Inflation Expectations   UK - MPC Member Haskel Speaks USA - Consumer Credit (May) On Friday, the Dow Jones Industrial Average experienced notable fluctuations, hovering around the 39,300 level. This volatility was driven by US nonfarm payrolls data, which reignited hopes for potential rate cuts. Despite the broader US equity market climbing on renewed expectations of a Federal Reserve rate reduction, the Dow Jones remained stuck in a technical consolidation phase.