Weekly Economic Calendar: Week of November 03 - 07, 2025 (GMT+8)
A moderate week for U.S. data — focusing on PMI readings, labor indicators, and the Bank of England’s rate decision.
Traders should keep an eye on employment and services data for cues on U.S. economic resilience and inflation momentum.
| Time | Cur. | Events | Fcst | Prev |
|
Monday, November 3, 2025
|
||||
| 22:45 | USD |
S&P Global Manufacturing PMI (Oct)
|
52.2 | 52.2 |
| 23:00 | USD |
ISM Manufacturing PMI (Oct)
|
49.2 | 49.1 |
| 23:00 | USD |
ISM Manufacturing Prices (Oct)
|
62.6 | 61.9 |
| Tuesday, November 4, 2025 | ||||
| 23:00 | USD | JOLTS Job Openings (Sep) | 7.227M | |
| Wednesday, November 5, 2025 | ||||
| 21:15 | USD | ADP Nonfarm Employment Change (Oct) | 28K | -32K |
| 22:00 | USD | ISM Non-Manufacturing PMI (Oct) | 50.0 | |
| 22:00 | USD | ISM Non-Manufacturing PMI (Oct) | 51.0 | 50.8 |
| 22:00 | USD | ISM Non-Manufacturing Prices (Oct) | 69.4 | |
| 22:45 | USD | S&P Global Services PMI (Oct) | 55.2 | 55.2 |
| 23:30 | USD | Crude Oil Inventories | -6.858M | |
| Friday, September 12, 2025 | ||||
| 20:00 | GBP | BoE Interest Rate Decision (Nov) | 4.00% | 4.00% |
| Key highlights: |
🇺🇸 S&P Global Manufacturing PMI (Oct) — Monday, Nov 3 (22:45)
- Forecast: 52.2 | Previous: 52.2
→ Steady expansion in manufacturing activity; stability suggests U.S. factories are holding up despite slower global demand.
🇺🇸 ISM Manufacturing PMI (Oct) — Monday, Nov 3 (23:00)
- Forecast: 49.2 | Previous: 49.1
→ Remains below 50, signaling contraction. The sector continues to struggle under tight financial conditions.
🇺🇸 ISM Manufacturing Prices (Oct) — Monday, Nov 3 (23:00)
- Forecast: 62.6 | Previous: 61.9
→ Rising input prices could reignite inflation concerns, potentially complicating the Fed’s path to policy easing.
🇺🇸 JOLTS Job Openings (Sep) — Tuesday, Nov 4 (23:00)
- Previous: 7.227M
→ Any decline in openings would hint at cooling labor demand — a key factor for the Fed’s inflation outlook.
🇺🇸 ADP Nonfarm Employment Change (Oct) — Wednesday, Nov 5 (21:15)
- Forecast: +28K | Previous: -32K
→ A rebound in private payrolls could calm fears of a weakening job market ahead of the official NFP report.
🇺🇸 ISM Non-Manufacturing PMI (Oct) — Wednesday, Nov 5 (22:00)
- Forecast: 51.0 | Previous: 50.8
→ The service sector remains in mild expansion territory — crucial for sustaining GDP growth momentum.
🇺🇸 ISM Non-Manufacturing Prices (Oct) — Wednesday, Nov 5 (22:00)
- Previous: 69.4
→ Elevated price components may signal sticky inflation in the services sector.
🇺🇸 S&P Global Services PMI (Oct) — Wednesday, Nov 5 (22:45)
- Forecast: 55.2 | Previous: 55.2
→ Consistent strength in services underlines consumer resilience.
🛢️ U.S. Crude Oil Inventories — Wednesday, Nov 5 (23:30)
- Previous: -6.858M
→ Another drawdown could lift oil prices and reinforce inflationary pressures.
🇬🇧 BoE Interest Rate Decision (Nov) — Thursday, Nov 6 (20:00)
- Forecast: 4.00% | Previous: 4.00%
→ No policy change expected. Traders will focus on the vote split and forward guidance for early-2026.
Macro Analysis
🇺🇸 United States — Services Lead the Way
Manufacturing remains soft, but the services sector continues to provide stability. Labor data (ADP, JOLTS) will determine whether recent job market cooling is temporary or structural. Inflation signals in PMI price components could delay expectations for further Fed rate cuts.
🇬🇧 United Kingdom — BoE Steady but Cautious
With inflation gradually easing but wage growth still elevated, the Bank of England is likely to hold rates steady while maintaining a cautious tone. GBP volatility could rise during the decision.
🛢️ Commodities — Oil Draws in Focus
Falling inventories could support crude prices, indirectly pressuring inflation expectations and risk sentiment.
Speculative Outlook for USD Traders
This week is a CPI-driven minefield for dollar bulls and bears alike. Here’s how it could play out:
🟢 Bullish USD Setup
- ADP jobs rebound strongly
- ISM prices remain high
- Services PMI > 52 → Possible trades: Long USD/JPY, Short Gold, Short EUR/USD
🔴 Bearish USD Setup
- Weak JOLTS + soft ADP data
- ISM Non-Manufacturing slips below 50 → Possible trades: Long Gold, Long EUR/USD, Long GBP/USD
🟡 Neutral Setup
- Mixed PMI data with steady job figures → Range-bound USD performance; traders may await next week’s CPI/NFP confirmation.
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