BOJ Gov Kuroda Speaks JPY: Kuroda as the head of the Bank of Japan, which controls short-term interest rates, has an important influence on the value of the yen. Traders are watching his words to get a favorable estimate of Japan’s future interest rates and its economic conditions.
RBA Gov Lowe Speaks AUD: The Governor of the Reserve Bank of Australia, who controls short-term interest rates, has the greatest influence on the value of Australia’s currency. Traders are watching his words to get a favorable estimate of Australia’s future interest rates and its economic conditions.
ECB President Lagarde Speaks EUR: As head of the ECB, which controls short term interest rates, she has more influence over the euro’s value than any other person. Traders scrutinize her public engagements as they are often used to drop subtle clues regarding future monetary policy.
RBNZ Gov Orr Speaks NZD: The governor of New Zealand’s central bank, which controls short-term interest rates, has more influence on the value of the New Zealand dollar than anyone else. His words are always scrutinized by traders to get a good estimate of New Zealand’s future interest rates and economic conditions.
Employment Change CAD: The employment Change released by the Statistics Canada is a measure of the change in the number of employed people in Canada. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. There is a significant correlation between the amount of people working and consumption, which impacts inflation and the Bank of Canada’s rate decisions, in turn moving the CAD. Forecasts point to a decline in the employment index, which could weaken the Canadian dollar.
Unemployment Rate CAD: The Unemployment Rate released by the Statistics Canada is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the Canadian Economy. If the rate is up, it indicates a lack of expansion within the Canadian labor market. As a result, a rise leads to weaken the Canadian economy. Normally, a decrease of the figure is seen as positive (or bullish) for the CAD, while an increase is seen as negative or bearish.
Average Hourly Earnings USD: The Unemployment Rate released by the Statistics Canada is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the Canadian Economy. If the rate is up, it indicates a lack of expansion within the Canadian labor market. As a result, a rise leads to weaken the Canadian economy. Normally, a decrease of the figure is seen as positive (or bullish) for the CAD, while an increase is seen as negative or bearish.
Non-Farm Employment Change USD: Economists are looking for around a 200k increase in US non-farm payrolls after 261k in October. If the employment index is higher than the previous rate as well as forecasts, it can ease investors’ worries about inflation to some extent. This could indicate that inflation has peaked and dissuade the Federal Reserve from raising interest rates further, which in turn would strengthen risk-taking flows in the market and could weaken the dollar. But if the employment data surprises investors again and it is published more than the previous rate, we expect the strong growth of the US dollar.
Unemployment Rate USD: Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. It is expected that there will be no significant change compared to the previous rate. However, if this index moves in line with other inflation indices of employment and hourly wages and shows the end of inflation, it can further strengthen risk-taking trends.
