It’s getting close to the time when American voters will have to decide between a continuation of the Trump administration or whether it is time for a change. On Tuesday, they will get a chance to weigh up the two candidates when they go head-to-head in the first televised presidential debate.
Away from the political circus, the latest US unemployment rate is expected to highlight the desperate plight of the American economy. Whilst the jobless rate could show a fifth monthly decline, it is still expected to indicate that 8.3% of the working population were not in gainful employment in September.
Over in the Eurozone, the unemployment rate could have risen for the fifth consecutive month to 8.2% in August. In July, the seasonally-adjusted unemployment rate of 7.9% was the highest since November 2018, despite temporary job-support schemes and the relaxation of some lockdown measures.
Meanwhile, the unemployment rate in Japan could have edged up above 3% for the first time since 2017.
China will report some closely-watched purchasing managers’ indices. They could show that both the manufacturing and non-manufacturing sectors expanded in September.
The Reserve Bank of India will announce its latest interest-rate decision. In August, the central bank surprised the market when it kept the benchmark repo rate unchanged at 4%. It could sit on its hands again, as policymakers have pledged to keep interest rates low for as long as necessary to revive growth.
Malaysia could post another healthy monthly trade surplus for August following its record-breaking surplus the previous month. In July, exports were led by agricultural and manufactured goods.
And finally, Singapore could register another drop in bank loans. In July, total bank lending fell to its lowest since April last year. Bank lending to consumers was unchanged but lending to businesses declined.
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Disclosure: David Kuo does shares in all the companies mentioned.
