Upcoming Week: Impact of Consumer Confidence and Jobless Claims on the US Dollar.

• The crucial data for the US Dollar this September includes the consumer confidence and PCE Price Index numbers.
• The preliminary inflation figures for the Eurozone are expected to give insight into the rate environment.
• China's private sector PMIs are anticipated to impact global markets.

For the US Dollar

Data on consumer confidence for September marks the beginning of an important week for the Greenback. A stable consumer confidence level would support a positive consumption outlook and potentially influence a more aggressive Fed interest rate path.

The final Q2 GDP and jobless claims numbers to be released ahead of a busy Friday session should also be taken into account. Investors will likely pay more attention to the jobless claims, as a significant increase may alleviate concerns about a more aggressive Fed interest rate trajectory.

The US economic indicators on Friday are expected to drive the trajectory of the dollar leading up to the US Jobs report. The Core PCE Price Index, personal income, and personal spending figures will offer insights into consumption and demand-driven inflation.

Aside from the data, statements from Fed speakers can also impact the dollar. Investors will react to indications of the Fed planning to tighten its policy.

For the EUR

The German economy will be the focal point early in the week, potentially adding pressure on the EUR. Business and consumer confidence figures from Germany will attract investor attention on Monday and Tuesday.

A decline in the Ifo Business Climate Index would reinforce concerns about the economic environment and labor market conditions. Deteriorating labor market conditions are likely to weigh on the GfK Consumer Climate Index, signaling a potential decline in consumption, which could further impact the services sector.

On Thursday, preliminary German inflation numbers will also be significant ahead of German unemployment figures on Friday. If inflation remains soft and unemployment steadies, it could provide some relief to consumers.

However, Eurozone inflation figures will need to soften significantly to alleviate concerns about a prolonged period of higher interest rates.

Apart from the data, investors should monitor the ECB calendar for commentary throughout the week. The ECB Economic Bulletin release on Thursday will be of particular interest.

For the Pound

Following a third consecutive weekly decline to $1.22348, the Pound may experience some relief but will be influenced by Q2 GDP numbers on Friday.

Additionally, speeches from Bank of England members will be crucial. Comments related to the economy and monetary policy will impact the GBP/USD pair.

For the Loonie

July's GDP numbers will guide the Loonie's direction. Another monthly contraction could prompt the Bank of Canada to adjust its monetary policy.

Other statistics, such as wholesale sales numbers, are unlikely to significantly impact the Loonie. However, oil prices and market risk sentiment will remain influential.

For the Aussie Dollar

The Aussie Dollar's performance will depend on commodity prices and market risk sentiment. August retail sales figures will be influential on Thursday, potentially alleviating concerns about consumption and affecting RBA's monetary policy.

Economic indicators from China, including private sector PMIs, will also be important.

For the Kiwi Dollar

Private sector PMIs from China will impact the Kiwi Dollar on Friday. The Caixin service and manufacturing PMIs will have more influence than the NBS numbers.

No economic indicators from New Zealand will affect sentiment toward RBNZ monetary policy.

For the Japanese Yen

Inflation and industrial production figures will bring the Japanese Yen into focus on Friday. Softer Tokyo core inflation numbers would likely spark speculation about a potential shift in the Bank of Japan’s views on negative interest rates.

Industrial production statistics for August will also attract investor attention.

Out of China

Private sector PMIs for September will significantly impact global financial markets. A rebound in private sector activity across the services and manufacturing sectors in the Caixin PMIs could support a more positive outlook for the Chinese economy. Conversely, a contraction in these sectors would adversely affect riskier assets at the end of the week.