Week Ahead: Elections, Rate Decisions and Jobs Take Center Stage
Published on October 30, 2026, by Greg Michalowski
Overview
The week of November 2–6 is set to be pivotal for traders, with significant events including expected rate hikes from the Reserve Bank of Australia (RBA) and the Bank of England (BOE), US congressional elections, and employment reports from both the US and Canada.
Key Events by Day
Monday, November 2: US Manufacturing and RBA Decision
- 10:00 AM ET: US ISM Manufacturing PMI - Forecast: 54.7
- 10:30 PM ET: RBA cash rate decision - Forecast: 4.85%
- 10:30 PM ET: RBA Monetary Policy Statement
- 11:30 PM ET: RBA press conference
The manufacturing index is expected to show slight growth, while the RBA is anticipated to raise rates by 25 basis points.
Tuesday, November 3: US Elections and Job Openings
- 10:00 AM ET: US JOLTS job openings - Forecast: 7.11 million
- All day: US congressional elections
- 4:45 PM ET: New Zealand employment change - Forecast: 0.4%
The elections will determine control of Congress, impacting President Trump's legislative agenda.
Wednesday, November 4: Eurozone Inflation and US Services
- 5:00 AM ET: Eurozone core CPI flash estimate - Forecast: 2.5%
- 10:00 AM ET: US ISM Services PMI - Forecast: 54.9
Rising inflation in Europe could complicate policy decisions, while the US services sector is expected to remain stable.
Thursday, November 5: BOE Decision and Canada’s Budget
- 7:00 AM ET: BOE bank rate decision - Forecast: 4.00%
- 4:00 PM ET: Canada annual budget release
The BOE is expected to raise rates, and Canada's budget will be closely watched for fiscal implications.
Friday, November 6: US and Canadian Jobs Reports
- 8:30 AM ET: US nonfarm payrolls - Forecast: +63,000
- 8:30 AM ET: Canada employment change - Forecast: +14,500
Both reports will be critical for assessing economic health, with potential market volatility expected.
Market Implications
Traders should focus on the reactions to these events, particularly how rate hikes and employment data influence market sentiment. The outcomes of the elections could also lead to significant shifts in fiscal policy, impacting various sectors.