The Business News Week Ahead

What is expected to be another up-and-down run for economic data, the week starts and ends with two major market movers: China's CFLP manufacturing index the first thing on Monday which isn't expected to show much improvement and the US employment report on Friday where sharp improvement is the strong consensus. After a round of manufacturing PMIs through Monday morning, from India to Germany, the ISM manufacturing report will cap the day off. This is a very closely watched report, especially by policy makers, and further slowing, in contrast to what's expected for Friday's employment report, is the call. Tuesday starts with the second-quarter Tankan out of Japan followed by a monetary announcement from the rate-cutting Reserve Bank of Australia. Trade data from Australia, Canada and the US also fill Tuesday's calendar and will offer updates on the pace of cross-border activity. ISM non-manufacturing will be Wednesday's highlight in a US report, one in which rates of growth have been solid, that can have outsized impact on US markets. Eurozone and Japanese consumer spending data will be posted on Thursday and on Friday, ahead of US employment, German manufacturing orders and the Canadian labour force survey.