September Economic Data and Earnings Set Stage for FOMC Decision
The start of September will bring significant economic data that could influence the Federal Open Market Committee's (FOMC) next monetary policy decision, set for its mid-month meeting. The labour-market reports include job openings and labour turnover survey (JOLTS), ADP employment change, US non-farm payrolls, and unemployment rate.
The JOLTS report on Tuesday is expected to show a decline in job openings from 7.359m to 7.273m in July. The ratio of job openings to unemployed workers reached its highest level since January 2025 in June, indicating a tightening labour market. A strong reading could put pressure on the Federal Reserve to consider raising interest rates.
The EUR/USD pair may be particularly sensitive to the release, with a potential reversal of recent dollar weakness and pushing the pair lower if the reading is strong.