Economic calendar: NFP report, Canadian jobs data in the spotlight

7:40 AM December 2, 2022
  • European indices set for flat opening

  • US and Canadian jobs data at 1:30 pm GMT

  • G7 discusses $60 per barrel cap on Russian oil

European index futures point to a more or less flat opening of the cash session on the Old Continent after overnight losses were erased in the run-up to the session launch. DAX futures trade around 20 points below yesterday's cash close at press time. EURUSD holds above 1.05 after receiving a boost from dovish comments from Fed members. Gold tests $1,800 handle while oil trades a touch lower on the day.

The day ahead is all about jobs data from the North American with focus being on the US NFP report for November. Fed members started to tout slowing rate hikes and investors will look whether labor market data supports this view. As it is usually the case, Canadian jobs reports will be released simultaneously so USDCAD traders should stay on guard as volatility on the pair is likely to spike. Apart from that, discussions on price cap on Russian oil are ongoing and G7 countries are said to be close to agreeing on a $60 per barrel limit.

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10:00 am GMT - Euro area, PPI inflation for October. Expected: 31.5% YoY. Previous: 41.9% YoY

1:30 pm GMT - US, NFP report for November.

  • Non-farm payrolls. Expected: 200k. Previous: 261k

  • Unemployment rate. Expected: 3.7%. Previous: 3.7%

  • Wage growth. Expected: 4.6% YoY. Previous: 4.7% YoY

1:30 pm GMT - Canada, jobs report for November. 

  • Employment change. Expected: +5.5k. Previous: +119.3k

  • Unemployment rate. Expected: 5.3%. Previous: 5.2%

Central bankers' speeches

  • 7:45 am GMT - ECB Villeroy

  • 12:00 pm GMT - ECB De Guindos

  • 1:30 pm GMT - ECB Nagel

  • 2:15 pm GMT - Fed Barkin

  • 3:15 pm GMT - Fed Evans

  • 7:00 pm GMT - Fed Evans


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