Key dates and events of the week
Early October: With Moody’s due to conclude review of Spanish sovereign rating anytime soon, there is a possibility for Spain to get further downgraded from its current rating Baa3.
1st October: The EU PMI manufacturing survey for September will provide a useful insight in the manufacturing situation in the last month of Q3 in “non-core” European countries.
2nd October: Greek auction
2nd October: Conference of regional heads of government in Spain
3rd October: EU PMI services survey for September
4th October: Spanish auction
4th October: ECB governing council meeting along with interest rate announcement and press conference. This is an occasion for the ECB to consider its stance on policy. No rate changes are expected due to rising inflation expectations.
5th October: US Non-Farm Payroll: Although the open-ended QE has deprived the most important economic release of the month of some of its flair, the NFP report is likely to bring in added volatility especially in the forex market towards the end of the week.