- European indices set for flat opening
- NFP reading for September at 1:30 pm BST
- Jobs report from Canada
Futures markets point to a flat or slightly lower opening of the European cash session today with DAX futures trading slightly below yesterday's cash close. Precious metals and cryptocurrencies trade slightly higher, while oil erased some of the recent gains. CHF and JPY are the best performing major currencies.
US NFP report release is a key macro event of the day, especially after Fed Chair Powell hinted at a strong labour market as one of factors supporting further tightening. US employment increase in September is expected to be smaller than in August and wage growth is also expected to decelerate slightly on a year-over-year basis.
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Create account Try a demo Download mobile app Download mobile appApart from the NFP report, investors will also be offered jobs data from Canada. The Canadian report will be released at the same time as the US one (1:30 pm BST) therefore traders should be aware of a possible jump in USDCAD volatility in the early afternoon. When it comes to European releases, the economic calendar for today is light. German industrial production and retail sales data for August were two noteworthy readings, but were released already at 7:00 am BST and did not cause major moves on the markets. Production came in line below expectations, while retail sales matched analysts’ estimates.
9:00 am BST - Italy, retail sales for August. Expected: 0.0% MoM. Previous: 1.3% MoM
1:30 pm BST - US, NFP report for September.
• Non-farm payrolls. Expected: 250k. Previous: 315k
• Unemployment rate. Expected: 3.7%. Previous: 3.7%
• Wage growth. Expected: 5.1% YoY. Previous: 5.2% YoY
1:30 pm BST - Canada, jobs report for September.
• Employment change. Expected: 20.0k. Previous: -39.7k
• Unemployment rate. Expected: 5.4%. Previous: 5.4%
3:00 pm BST - US, wholesale inventories for August (final). Expected: 1.3% MoM. Previous: 0.6% MoM
Central bankers' speeches
• 3:00 pm BST - Fed WilliamsThe content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
