Economic calendar: NFP day!

• 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.

Apart 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

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