Macro Outlook for Next Week: Non-Farm 'Invisible', Tariff Case Under Review, Gold Enters Seasonally Strong Period

This week the market started with a series of potential risks, but through various efforts, these risks were gradually resolved, and market sentiment temporarily turned positive.

Here are the key points the market will focus on in the upcoming week:

Monday 22:45, U.S. October S&P Global Manufacturing PMI Final

Tuesday 01:00, 2027 FOMC voting member, San Francisco Fed President Daly speaks

Tuesday 23:00, U.S. September JOLTs Job Openings

Wednesday 21:15, U.S. October ADP Employment Change

Thursday 21:30, U.S. Initial Jobless Claims for the week ending November 1

Friday 00:00, FOMC permanent voting member, New York Fed President Williams speaks

Friday 01:00, 2026 FOMC voting member, Cleveland Fed President Mester speaks at the New York Economic Club

Friday 05:30, 2026 FOMC voting member, Philadelphia Fed President Harker speaks

Friday 06:30, 2025 FOMC voting member, St. Louis Fed President Bullard discusses monetary policy at a fireside chat

Friday 16:00, FOMC permanent voting member, New York Fed President Williams speaks at the ECB Monetary Market Meeting.

A series of weak data to be released next week will reignite market expectations for a rate cut in December.