Today’s macroeconomic calendar is focused primarily on Canadian labour market data, which will be released at 14:30. The consensus expects employment to increase by 8K following a sharp decline of 41.7K in the previous month, while the unemployment rate is forecast to rise to 6.5% from 6.4%. The figures could provide further insight into the health of the Canadian economy and influence expectations for the Bank of Canada’s future monetary policy decisions.
Key Releases from the Asian Session
- Japanese household spending fell by 3.1% year-on-year in August, coming in above market expectations of a 3.5% decline (previously -3.6% y/y).
Macroeconomic Calendar
- 08:00 – Norway: CPI inflation y/y for September. Consensus: 3.6%. Previous: 3.3%.
- 08:00 – Norway: Core CPI inflation y/y for September. Consensus: 3.1%. Previous: 3.0%.
- 08:00 – Norway: PPI inflation y/y for September. Previous: 30.1%.
- 08:00 – Sweden: Industrial production, seasonally adjusted, y/y for August. Previous: 0.2%.
- 08:00 – Romania: Final GDP, not seasonally adjusted, y/y for Q2. Consensus: -0.4%. Previous: -1.2%.
- 09:00 – Turkey: Industrial production y/y for August. Previous: -0.3%.
- 09:00 – Slovakia: Foreign trade balance for August. Previous: EUR 14M.
- 09:00 – Slovakia: Industrial production y/y for August. Consensus: 2.1%. Previous: 2.4%.
- 10:00 – Italy: Industrial production m/m for August. Consensus: 0.0%. Previous: 0.7%.
- 12:15 – Eurozone: Speech by ECB Executive Board member Piero Cipollone.
- 14:30 – Canada: Unemployment rate for September. Consensus: 6.5%. Previous: 6.4%.
- 14:30 – Canada: Employment change for September. Consensus: +8K. Previous: -41.7K.
- 14:30 – Canada: Full-time employment change for September. Previous: -35.9K.
- 14:30 – Canada: Part-time employment change for September. Previous: -5.8K.
- 15:35 – Eurozone: Speech by ECB Executive Board member Isabel Schnabel.
- 16:00 – US: Preliminary University of Michigan Consumer Sentiment Index for October. Consensus: 47.7. Previous: 48.1.
- 16:00 – US: Preliminary short-term inflation expectations for October. Previous: 4.6%.
- 16:00 – US: Preliminary long-term inflation expectations for October. Previous: 3.4%.
- 19:00 – US: Baker Hughes oil rig count. Previous: 457.
- 22:00 – US: Speech by Boston Fed President Susan Collins.
Three Markets to Watch
- CAD/USD – Canadian Dollar: The Canadian labour market report at 14:30, particularly the unemployment rate and employment change, could trigger a direct reaction in CAD-related currency pairs and shape expectations for the Bank of Canada’s interest rate policy.
- S&P 500 The University of Michigan report at 16:00, alongside inflation expectations, could influence risk sentiment on Wall Street and the US dollar heading into the end of Friday’s session.
- Oil Markets: Changes in oil prices remain relevant for broader market sentiment and the Canadian dollar, given Canada’s role as a major energy exporter. Investors will also monitor the US oil rig count at 19:00 for additional insight into activity in the energy sector.
Daily Summary: OpenAI Revenue Concerns Weigh on Wall Street
Daily Summary: Trump and OpenAI keep the market on a roller coaster💡
Gold struggling as oil prices pick up
U.S. attacks on Iran suspended 💥
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.