Economic calendar: It's NFP day!

• European markets set to slightly higher

• Jobs data from the United States and Canada

• Cannabis companies Canopy Growth and Cronos report earnings

Future markets point to a flat or slightly higher opening of today's session for major European indices. Trading ranges on the FX market have been narrow overnight with Antipodean currencies seeing some weakness.

Release of the US NFP report for July is a key market event of the day (1:30 pm BST). Market expects strong employment growth and acceleration in wage growth. However, ADP data released earlier this week has disappointed and suggested a lacklustre 330k addition. Labour market data from Canada will also be released at 1:30 pm BST so beware of elevated volatility on USDCAD. 

9:00 am BST - Italy, industrial production for June. Expected: 1.2% MoM. Previous: -1.5% MoM

1:30 pm BST - US, NFP report for July.

• Non-farm payrolls. Expected: 900k. Previous: 850k

• Unemployment rate. Expected: 5.7%. Previous: 5.9%

• Wage growth. Expected: 3.9% YoY. Previous: 3.6% YoY

1:30 pm BST - Canada, labour market report for July.

• Employment change. Expected: 148k. Previous: 230.7k

• Unemployment rate. Expected: 7.4%. Previous: 7.8%

3:00 pm BST - US, wholesale inventories for June. Expected: 0.8% MoM. Previous: 1.3% MoM

Top US earnings reports

• Canopy Growth Corporation (CGC.US) - before market open

• Cronos Group (CRON.US) - before market open