**September 7–11, 2026 | Weekly Risk Calendar (GMT+3)** 🎯 **Main Theme of the Week** After Jackson Hole and August NFP,markets are seeking a new reference point. August ADP added 38K, below the 47K forecast and July’s revised 46K. ISM Manufacturing fell to 54.6 but stayed in expansion,while Services rose to 55.4. The week centers on U.S. inflation data and the ECB decision. U.S. and Canadian markets are closed Monday for Labor Day,compressing the week into four sessions. 📅 **Economic Calendar** **Monday – September 7** 🇺🇸🇨🇦 **U.S. and Canadian markets closed** *(Labor Day)* Low trading volume and thin liquidity are expected;Asian and European sessions will take the lead. **Thursday – September 10** 🇺🇸 **15:30 GMT+3 — PPI, August 2026** Producer prices will provide an early signal on pipeline inflation. 🇪🇺 **Afternoon — ECB Rate Decision + President Lagarde Press Conference** Germany’s August inflation data is also due. 🇺🇸 **17:00 GMT+3 — Existing Home Sales, August 2026** **Friday – September 11** 🇺🇸 **15:30 GMT+3 — CPI, August 2026** The week’s most critical data point before the September 16 FOMC. Headline inflation is expected to accelerate from July’s 3.4%; core CPI’s move from 2.5% will be key. 🇺🇸 **17:00 GMT+3 — Michigan Consumer Sentiment Preliminary,September 2026** --- ⚡ **Crypto & Market Risks** **PPI + ECB on Thursday:** A hot PPI could lift Friday’s CPI expectations and push markets into a cautious stance ahead of the FOMC. ECB tone could affect DXY through EUR/USD and indirectly impact crypto. **CPI (Friday 15:30):** Hot reading → hike expectations return,dollar strengthens and crypto faces leverage pressure. Soft reading → hold expectations strengthen and risk-on may continue into the FOMC. CPI is only five days before the FOMC,leaving a narrow window for repositioning. **Short week + thin liquidity:** Monday’s holiday compresses the week into four sessions; the PPI-ECB-CPI sequence raises intraday volatility risk. $BTC