LONDON, Aug 29 (Reuters) - Another batch of

closely-anticipated U.S. jobs data, a high-level gathering in

China, political upset in France and a blockbuster trial in

Brazil are coming up.

It's time to catch up with that post-summer read in.

Here's your week ahead in global markets by Lewis Krauskopf

in New York, Rae Wee in Singapore and Anousha Sakoui, Dhara

Ranasinghe and Marc Jones in London.

1/ WORK DISPUTE

The next U.S. jobs report on September 5 could cement

expectations of an impending Federal Reserve rate cut.

The August non-farm payrolls report is expected to show growth

of 78,000 jobs, according to a Reuters poll, versus 73,000 for

July.

Last month's weak report, which included huge downward

revisions for the prior two months, heightened market

expectations the Fed will ease rates in September.

Fed Chair Jerome Powell appeared to support those expectations

at his Jackson Hole speech, saying that risks to the job market

were rising.

The jobs data coincides with wariness about threats to the Fed

independence after President Donald Trump set about trying to

fire Fed Governor Lisa Cook.

2/ POWER PLAY

Over 20 world leaders gather at a regional security forum in

China come Sunday, in a powerful show of solidarity when Trump

is seeking to double down on his vision of U.S. supremacy.

Russia's Vladimir Putin, welcomed back onto the world stage by

Trump in August, joins the Shanghai Cooperation Organization

summit in Tanjin. The event also marks the first visit to China

by India's Narendra Modi in over seven years.

Days later, Chinese President Xi Jinping hosts North Korean

leader Kim Jong Un at Beijing's "Victory Day" parade.

Markets should pay attention as Xi looks to position China as a

global force in a shifting geopolitical landscape. China has

increased deployments around Taiwan and the disputed South China

Sea.

Another round of China PMI releases meanwhile is expected to

show the economy continues to struggle.

3/ BACK TO SCHOOL

Pack away the beach towels and stow the deck chairs, summer

(in most places) is over. Markets sense it too.

In a foretaste of the pick-up in activity in September, French

markets sold off this week on political turbulence and the

Treasury curve steepened after Trump said he would fire Cook.

France's Prime Minister, trying to get budget-cut plans

across the line, has called a no-confidence vote for September

8. He is expected to fail.

At the same time, the September Fed meeting will take place

against growing angst about central bank independence.

So, that's two already on the September market risks

check-list.

Stock markets near record highs, smack of complacency, and

bond markets - where plenty of risk is priced in - are unlikely

to breathe soon.

4/ BACK WITH A BANG

The value of global mergers and acquisitions has hit highs not

seen since the 2021 post-pandemic boom. Despite earlier market

turmoil and a reduced number of transactions, by the end of the

year, we could be near the $4 trillion in deals forecast by some

dealmakers last year.

Tariff-driven expansion, sector consolidation and cross-border

strategic alliances are some of the drivers. Keurig Dr Pepper's ( KDP )

$18 billion takeover of JDE Peets highlights

how companies may be navigating rising U.S. tariffs.

And the takeover of UK assets by largely U.S. bidders will

likely continue given an ongoing valuation gap between the two

regions. While some deals have taken longer to get done,

downward pressure on rates and a strengthening macro environment

will support M&A momentum, says BNP Paribas's UK head of

advisory Kirshlen Moodley.

5/ HIGH STAKES

Brazil's high stakes trial of former President Jair Bolsonaro

enters its final stretch on Tuesday, with the far-right leader

and seven of his closest aides accused of plotting a coup to

overturn the 2022 election result.

If found guilty, he could face over 40 years in jail. For

markets, the immediate issue is that it could further rile Trump

who has already imposed 50% tariffs on Brazilian goods for what

he calls the "witch hunt" against Bolsonaro.

Some of Brazil's biggest exports, such as aircraft, energy

and orange juice, have so far avoided the tariffs, so the

concern is that Trump could turn his attention to them.

A parallel case at Brazil's Supreme Court is investigating

Bolsonaro and his son, congressman Eduardo Bolsonaro, for trying

to pressure justices to acquit the former president.

That is crucial too as it could mean there is no Bolsonaro on

the ballot for next year's election and Trump's attacks seem to

have lifted current Brazil President Luiz Inacio Lula da Silva's

popularity rating.

(Compiled by Dhara Ranasinghe; Graphics by Prinz Magtulis, Alun

John and Marc Jones, Editing by Barbara Lewis)