This week’s data will determine whether the market has “bad news fully priced in” or whether it needs “more to come” (9.28–10.4)

I. Macroeconomic Calendar
▶️9.28 Dallas Fed manufacturing and remarks by multiple Federal Reserve officials.
▶️9.29 Reserve Bank of Australia rate decision; U.S. consumer confidence, JOLTS job openings, and home price index.
▶️9.30 U.S. August PCE / core PCE, personal income and spending, Q2 GDP final estimate, and ADP.
▶️10.1 Initial jobless claims, ISM manufacturing PMI, and Challenger layoffs. Lays the groundwork for Friday’s nonfarm payrolls.
▶️10.2 U.S. September nonfarm payrolls, unemployment rate, and average hourly earnings.

II. Token Unlocks
(See the attachment)

Macroeconomics:
Wednesday’s PCE → Friday’s nonfarm payrolls. The risk is that hot data is a bearish signal for risk assets, while weaker figures may ease expectations of further rate hikes.
Friday could be a “double hit”: nonfarm payrolls + a major 2Z unlock on the same day, which can easily amplify volatility.

The above has been compiled from public calendars and is for event tracking only, not investment advice