Next Week Outlook: Non-Farm Payrolls "Ghosting", Federal Reserve Officials to Speak Frequently

BlockBeats News, November 1st. The market had previously been almost certain that the Fed would cut rates again in December, but Powell's remarks have led to a reassessment. This means that as Fed governors and regional Fed presidents resume public appearances to lay the groundwork for the crucial December meeting, speeches by Fed officials starting next week could be crucial.

Under normal circumstances, next week should have been the week when nonfarm payroll data is released. However, with the U.S. government shutdown now entering its second month, the usual schedule will not be feasible. The opportunity for the Bureau of Labor Statistics (BLS) to release nonfarm payroll data on Friday is extremely unlikely. Fortunately, there will be a wealth of U.S. private sector data released next week. Specifically, the usually overlooked JOLTS job openings and Challenger layoff data will receive the attention they deserve. Here are the key points that the market will focus on in the new week (all times in Beijing time):

Tuesday 01:00, 2027 FOMC Voter and San Francisco Fed President Daly speaks;

Friday 00:00, FOMC Permanent Voter and New York Fed President Williams speaks;

Friday 01:00, 2026 FOMC Voter and Cleveland Fed President Hamack speaks at the New York Economic Club;

Friday 05:30, 2026 FOMC Voter and Philadelphia Fed President Paulson speaks;

Friday 06:30, 2025 FOMC Voter and St. Louis Fed President Musalem speaks on monetary policy;

Friday 16:00, FOMC Permanent Voter and New York Fed President Williams speaks at the ECB Money Market Contact Group Meeting. (Jin Shi)