Home Forex Events to look forward to next week

Events to look forward to next week

by SuperiorInvest

  • RBA Governor Lowe’s Speech (AUD, 02:00 GMT)
  • Event of the Week – Non-Farm Wages (USD, GMT 13:30) – Nonfarm payrolls are expected to increase by 200,000 in November after gains of 261,000 in October, 315,000 in September and 292,000 in August. Wage growth is expected to slow through the winter as mortgage rates rise and recession fears mount. The increase in initial and continuing claims since September implies some downside risk to wages. The unemployment rate is expected to increase to 3.8% from 3.7% in October and 3.5% of the cycle in September. Hours worked are expected to rise 0.1% after a 0.2% increase in October, while the workweek has held steady at 34.5 for a sixth straight month. Average hourly earnings are expected to rise 0.3% after rising 0.4% in October, while year-on-year wage growth is expected to be steady at 4.7%. In the last expansion, we saw 3.5% year-over-year wage growth peak in February and July 2019, before the pandemic increased it to an 8.0% peak in April 2020. The subsequent strength of wage gains allowed for continued robust year-over-year growth in 2022, even as the return of low-wage workers into the labor force is likely to limit wage growth.
  • Employment data (CAD, GMT 13:30) – Employment in Canada increased by only 6 thousand in November after 108.3 thousand in October. The unemployment rate should remain unchanged at 5.2% m/m.

Click here to access our economic calendar

Andria Pichidi

Market analyst

Disclaimer: This material is provided as general marketing communication for informational purposes only and does not constitute independent investment research. Nothing in this communication contains or should be considered to contain investment advice or an investment recommendation or a solicitation to buy or sell any financial instrument. All information provided is collected from reputable sources and any information containing an indication of past performance is not a guarantee or a reliable indicator of future performance. Users acknowledge that any investment in leveraged products is characterized by a degree of uncertainty and that any investment of this nature involves a high level of risk for which users are solely responsible and liable. We shall not be liable for any loss arising from any investment made based on the information provided in this communication. This communication may not be reproduced or redistributed without our prior written consent.

Source Link

Related Posts

%d bloggers like this: