Investing.com - In the week ahead, investors will be turning their attention to Wednesday’s index of manufacturing activity from China and surveys on private sector activity from the euro zone for a fresh indication on the strength of the global economy.
Market players will also be focusing on U.S. durable goods data as well as reports on U.S. home sales for further indications on the strength of the economy and the likelihood of a near-term interest rate hike.
Investing.com has compiled a list of these and other significant events likely to affect the markets in the coming week.
1. China Caixin manufacturing PMI
China will release a preliminary reading of the Caixin manufacturing purchasing managers’ index for September on Wednesday amid lingering concerns over a China-led global economic slowdown.
The index, which will be published at 2:45AM London time, is expected to inch up to 47.5 this month from a final reading of 47.3 a month earlier, which was the lowest level since March 2009.
2. Euro zone PMIs
Also Wednesday, the euro zone is to publish preliminary data on manufacturing and service sector activity for September at 9:00AM in London. Market analysts expect the data to show a modest decline from a month earlier.
Ahead of the euro zone PMI's, France and Germany will release their own PMI reports at 8:00AM and 8:30AM respectively.
3. U.S. durable goods report
The U.S. is to release data on durable goods orders at 8:30AM ET on Thursday, as investors look for fresh readings on the strength of the economy.
The report is expected to show that orders for durable goods declined 2.0% in August, following a gain of 2.2% a month earlier, while core orders are forecast to rise 0.2% after tacking on 0.4% in July.
4. U.S. home sales data
The National Association of Realtors is to release data on existing home sales for August at 10:00AM Eastern time, amid expectations for a drop of 1.3% after rising 2.0% a month earlier.
On Thursday, the Commerce Department is to publish a report on new home sales for August at 10:00AM ET. The data is expected to show a gain of 1.6% to 515,000, following an increase of 5.4% in July.
5. Fed Chair Janet Yellen speaks
Federal Reserve Chair Janet Yellen is to speak on inflation dynamics and monetary policy at an event at the University of Massachusetts at 3:00PM ET on Thursday. Market volatility is expected as always.
Last week, the Fed left short-term interest rates unchanged at current levels amid concerns over soft inflation and the effects of recent market volatility on the U.S. economy.
The central bank said it wanted to see "some further improvement in the labor market," and be "reasonably confident" that inflation will increase before hiking rates.