The US Thanksgiving holiday is slowly coming to an end and liquidity conditions are expected to return to normal after the weekend. Next week will see some interesting events like the release of US and Canadian jobs data or inflation figures from Europe. Apart from that, Fed Chair Powell will make one of his final appearances ahead of the pre-meeting blackout period. Be sure to watch USDCAD, US100 and EURUSD next week.
USDCAD
With the beginning of a new month the time has come for release of jobs data from the United States and Canada. As usual, both reports will be released simultaneously on Friday at 1:30 pm GMT. The NFP report is expected to show a 200k jobs increase in November, down from last month's +261k, with the unemployment rate ticking higher from 3.7 to 3.8%. Canada is also expected to report an uptick in unemployment rate, from 5.2 to 5.3%. USDCAD is likely to be active around release hour and experience a spike in volatility.
US100
While US equity markets recovered a bit recently, gloomy global economic outlook and prospect of even tighter monetary policy continues to weigh on the sentiment. Investors will get to hear from a number of Fed speakers next week, including a speech from Fed Chair Powell on economy and jobs market at Brookings Institute (Wednesday, 6:30 pm GMT). What makes Powell's appearance even more important is that it is likely to be final ahead of the pre-meeting blackout period.
EURUSD
In Europe attention will be on inflation data next week. Key German report for November will be released on Tuesday, 1:00 pm GMT. Analysts expected headline inflation in Europe's largest economy to decelerate but only slightly, from 10.4 to 10.3% YoY. The European CPI report will be released on Wednesday, 10:00 am GMT. Inflation data from the euro zone will be another chance for USD to move next week apart from Powell's speech and US jobs data release.
