Economic calendar: Focus on Michigan data and WASDE report

6:47 AM November 8, 2019
  • Canadian unemployment rate expected to remain at 5.5% in October

  • Another increase expected in Michigan survey data

  • Credit Agricole (ACA.FR) and Allianz (ALV.DE) to report earnings today

1:30 pm GMT - Canada, jobs report for October. Bank of Canada decided to leave rates unchanged last week but hinted that the resilience of the Canadian economy will be put to a test soon. It may mean that the Canadian central bankers expect some weakness in the economy. Today’s labour market report is expected to show a 15.9k increase in employment. Unemployment rate is expected to remain at 5.5%

3:00 pm GMT - US, University of Michigan consumer sentiment for November. Michigan consumer sentiment index made a massive jump in October. Headline index moved from 89.8 pts to 95.5 pts in just two months and investors are curious whether the situation will continue to improve. Market consensus expects another higher reading in a row - 96 pts.

5:00 pm GMT - WASDE report. Traders should expect increased volatility on the grains market today as November’s WASDE report will be released. Overally, production figures for corn, soybean and cotton are expected to be reported lower. A decline is also expected in end stocks.

Central bankers’ speeches

  • 8:00 am GMT - Norges Bank Deputy Governor Matsen

  • 4:45 pm GMT - Fed’s Daly

  • 6:30 pm GMT - BoC’s Beaudry

Major companies reporting earnings today

  • Duke Energy (DUK.US)

  • Credit Agricole (ACA.FR)

  • Allianz (ALV.DE)

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