Publication Date: September 4, 2026

In this market calendar, we discuss the key macroeconomic developments and releases that could drive financial markets in the coming week.

A look back at the past week

Last week, the financial markets were primarily focused on the monthly U.S. employment figures (Non-Farm Payrolls) for August. These were released on Friday afternoon at 2:30 p.m. and put pressure on the U.S. stock markets in particular.

The consensus estimate was for 55,000 new jobs in August, but the actual figure came in at 162,000. Average hourly earnings rose by 0.3%, in line with expectations, and the unemployment rate remained unchanged at 4.1%, also as expected. The stronger-than-expected job growth points to a resilient U.S. labor market. This could keep inflationary pressures high for longer, thereby increasing the Federal Reserve’s leeway to raise interest rates further.

Inflation in the eurozone also rose sharply in August. On a year-over-year basis, inflation came in at 3.3%, in line with expectations. Higher energy prices were a major driver of this increase. Due to rising inflation, the market has already priced in a 25-basis-point rate hike by the European Central Bank for September. At the same time, expectations are also growing that the ECB will implement another 25-basis-point rate hike in December.

Outlook for the coming week:

The most important macroeconomic release of the coming week is the U.S. Consumer Price Index (CPI) for August. It will be released on Friday, September 11. Together with the U.S. jobs report, inflation trends serve as a key guide for the Federal Reserve’s monetary policy.

The market expects the CPI to rise by 0.4% on a month-over-month basis in August. Core CPI is expected to rise by 0.2%, matching July’s rate. Core CPI excludes food and energy prices. On a year-over-year basis, the CPI is expected to be 3.4% and core CPI 2.4%.

If inflation turns out to be higher than expected, it will drift further away from the desired 2% annual rate. This could reinforce expectations of further interest rate hikes and thus put pressure on the stock markets. Conversely, lower-than-expected inflation could be viewed positively, as it would reduce pressure on the Federal Reserve to raise interest rates further.

On Thursday, the European Central Bank will announce its interest rate decision. The policy rate is expected to be raised by 25 basis points. However, the subsequent press conference and any signals regarding future monetary policy may have a greater impact on financial markets than the rate decision itself.

Furthermore, attention on Thursday evening will turn to the quarterly earnings reports from Adobe and Oracle. For Adobe, the main focus is on the extent to which traditional software companies can benefit from AI or, conversely, come under pressure as a result. Oracle is also a major player in the AI and cloud sectors.

Finally, U.S. stock markets will be closed on Monday, September 7, for Labor Day.

Market Calendar for Week 37

Below is an overview of the most important macroeconomic releases for the coming week. These figures may lead to increased volatility in the financial markets.

Monday, September 7, 2026:

United States:

U.S. stock markets are closed for Labor Day.

Tuesday, September 8, 2026:

Wednesday, September 9, 2026:

No major macro-economic releases.

Thursday, September 10, 2026:

Europe:

• 8:00: German CPI for August

• 2:15: ECB interest rate decision

• 2:45: ECB press conference
  
  

United States:

• 2:30: August Producer Price Index

• 10:00: Adobe quarterly earnings

• 10:00: Oracle quarterly earnings
  
  

Friday, September 11, 2026:

United States:

• 2:30: August CPI, month-over-month and year-over-year

• 2:30: August Core CPI, month-over-month and year-over-year

Please note that publication dates and times are subject to change. For the most up-to-date information, always consult the official communication channels of the relevant institutions and government agencies.

Disclaimer: Investinginvolves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences. They are therefore intended for educational purposes only.