Economic calendar: US and Canadian jobs data in the spotlight

7:38 AM 7 May 2021
  • European markets seen opening higher

  • Jobs data from the United States and Canada

  • ECB President Lagarde to speak at 11:00 am BST

European stock markets are expected to open higher today following strong gains booked by US indices yesterday. Upbeat moods can be spotted on both equity and commodity markets with COPPER trading at fresh record highs above $10,250 and DE30 testing 15,300 pts mark.

The NFP report for April is a key event of the day. A very strong reading is expected with almost 1 million jobs gained. Wages are expected to decline on a year-over-year basis but it can be reasoned with base effects from a year ago. Simultaneously, Canadian labour market report will be released. In this case a drop in employment is expected. FX trades should keep in mind that volatility on USDCAD may be elevated near the release (1:30 pm BST).

8:00 am BST - Spain, industrial production for March. Expected: +12.6% yoY. Previous: -2.1% YoY

9:00 am BST - Italy, retail sales for March. Expected: -0.6% MoM. Previous: +6.6% MoM

1:30 pm BST - US, NFP report for April.

  • Non-farm payrolls. Expected: 978k. Previous: 916k

  • Unemployment rate. Expected: 5.8%. Previous: 6%

  • Wage growth. Expected: -0.4% YoY. Previous: 4.2% YoY

1:30 pm BST - Canada, labour market report for April.

  • Employment change. Expected: -175k. Previous: +303.1k

  • Unemployment rate. Expected: 7.8%. Previous: 7.5%

3:00 pm BST - US, wholesale inventories for March. Expected: +1.4% MoM. Previous: +0.6% MoM

Central bankers' speeches

  • 9:00 am BST - Riksbank Floden

  • 11:00 am BST - ECB President Lagarde

  • 12:15 pm BST - BoE Broadbent & Haldane

  • 2:00 pm BST - Fed Barkin

  • 2:00 pm BST - NBP Chairman Glapiński

Wall Street earnings releases

  • Athene Holding (ATH.US) - before market open

  • Cigna (CI.US) - before market open

  • DraftKings (DKNG.US) - before market open

  • Nikola (NKLA.US) - before market open

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