Weekly Macro Outlook: Labor Market Preview

This Weekly Macro Outlook highlights the key economic data releases, central bank events & speeches, and macro themes shaping global markets for the week of August 3, 2026.

Key Focus This Week:

  • Central banks: Fed speeches (Cook – economic outlook)
  • Major data: US labor market (Jul) & ISM PMI’s, NZ labor market Q2, Canada labour market (Jul), S&P Global PMI’s July
  • Key themes: US Treasury Financing Update Q3 & Q4, Geopolitical tensions – Middle East
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Mars Market Update: August 3rd, 2026 – Bullish Consolidation?

Last week, equity markets continued to stair step lower before rebounding late as they remain in sideways (likely bullish) consolidations. Importantly, no key support has been broken as the markets threaten to extend higher in another wave 5 rally. While there are enough waves in place to complete the big picture rally there is no […]