BUZZ-Week Ahead-US jobs data, BoC decision, global PMIs in focus

Sept 2 (Reuters) - A raft of U.S. data culminating in the August jobs report that will shape expectations ahead of the Sept 18 Federal Reserve rate decision, the Bank of Canada's interest rate announcement and PMIs for major economies will drive financial markets this week.

Monday is a holiday in the U.S. and Canada. U.S. data kicks off with ISM manufacturing and final S&P global PMIs on Tuesday followed by factory orders, JOLTS job openings, trade and the Fed's Beige Book on Wednesday, ADP August jobs, weekly jobless claims, and ISM services PMI on Thursday.

U.S. -farm payrolls will be the highlight on Friday; a Reuters poll predicts 165,000 headline jobs created in August and a dip in the unemployment rate to 4.2%. FOMC member John Williams speaks after the data.

The Bank of Canada is expected to cut its overnight rate for a third straight meeting on Wednesday as inflation wanes and the labour market slows. All 28 economists in the latest Reuters poll expected a 25 basis-point rate cut to 4.25%. PMIs, trade and employment data are also due.

The euro zone has final August PMIs, July retail sales and revised Q2 GDP. German industrial orders, manufacturing output and industrial production will provide a snapshot of the struggling German economy.

The only significant UK data is construction PMI on Thursday, with major Bank of England speakers scheduled.

It is a low-key week for tier-one Japanese data with only final PMIs and household spending due. The main event will be Bank of Japan board member Hajime Takata's speech and conference on Thursday.

China's Caixin manufacturing and services PMIs for August are due Monday and Wednesday. The manufacturing PMI will be closely watched after it dropped below the 50-mark separating growth from contraction in July. Trade data is expected on Saturday with exports likely to remain under pressure from Western tariffs and demand woes, while imports may slow after surging in July.

Australia's data highlights include Q2 GDP, current account, and July trade. Reserve Bank of Australia Governor Michele Bullock's speech and participation in a fireside chat on Wednesday will be keenly watched. New Zealand releases Q2 terms of trade.

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(Krishna Kumar and Andrew Spencer are Reuters market analysts. The views expressed are their own. Editing by Sonali Desai)

((krishna.k@thomsonreuters.com; andrew.m.spencer@thomsonreuters.com))