September Jobs Report: Markets Eye Fed Rate Path

This week's economic calendar is quiet on major central bank decisions, but packed with key data points that will guide markets' expectations of interest rate changes. The US non-farm payrolls report, due out on Friday, is the most anticipated event, with economists forecasting a slowdown in employment growth to 100,000 in September from 162,000 the previous month.

A weak print would raise concerns about the Fed's ability to sustain its newly higher policy rate without cooling the labor market too sharply. Conversely, a stronger-than-expected reading would reinforce the case for further tightening and support the hawkish message conveyed by the Fed's recent rate hike.

The week ahead also sees a string of key inflation data releases, including Wednesday's core PCE price index, which is expected to show prices rising 0.3% on the month in August, and Thursday's ISM Manufacturing PMI, forecast at 54.8 against 54.6 previously.

Nike reports fiscal first-quarter earnings on Thursday after the US market close, but its release is unlikely to have a significant impact on markets, given the week's other high-profile data releases.