Economic News: US jobs report in focus today

The economic news for today looks quite interesting.

The dollar retreated slightly on Thursday, extending Wednesday’s weakness after data showing a weaker-than-expected ADP employment number and weak non-manufacturing PMI.

The data fueled expectations that a cooling US economy will prompt Federal Reserve officials to sanction rate cuts soon.

Metals prices turned positive from neutral after weaker-than-expected US economic data raised hopes of a rate cut earlier in September, with the market now focusing on Friday’s non-farm payrolls data. of.

Crude Oil hit their highest level since April on Thursday, after data the previous day showed a decline in U.S. inventories. Those gains followed a larger than expected decline in U.S. crude stocks. The U.S. Energy Information Administration (EIA) reported a 12.2 million draw in inventories. Analysts polled by Reuters had expected a draw of 680,000 barrels. [EIA/S]

MCX gold futures settled -0.05% to 72367.Silver settled -0.07% to 91961.Copper settled 0.56% to 868.15. Crude oil +1.05% at 7024. Natural gas -2.75% to 197.8.

Economic data and events scheduled today. What economic news will affect the market today?

Japan

At 10.30am- Leading Indicators. Data is foreseen at 111.1% from previous 110.9%.

Above data could have a positive impact on the Yen.

Eurozone

At 11.30am – German Industrial Production m/m. Data is foreseen at 0.2% from previous -0.1%.

At 12.15 pm-

French Industrial Production m/m. Data is foreseen at -0.6% from previous 0.5%.

French Trade Balance. Data is foreseen at -7.2B from previous -7.6B.

At 12.30pm- German Buba President Nagel Speaks.

At 1.30pm- Italian Retail Sales m/m. Data is foreseen at 0.2% from previous -0.1%.

At 2.30pm- Retail Sales m/m. Data is foreseen at 0.2% from previous -0.5%.

At 10.45pm- ECB President Lagarde Speaks.

Above data could have a volatile impact on the Euro.

U.K.

At 11.30am- Halifax HPI m/m. Data is foreseen at 54.00 from previous 54.7.

Tentative – Housing Equity Withdrawal q/q. Data is foreseen at -20.3B from previous -25.1B.

Above data could have a neutral impact on the pound

US

At 3.10pm- FOMC Member Williams Speaks.

At 6.00pm-

Average Hourly Earnings m/m. Data is foreseen at 0.3% from previous 0.4%.

Non-Farm Employment Change. Data is foreseen at 191k from previous 272k.

Unemployment Rate. Data is foreseen at 4% from previous 4%.

At 8.30pm- Fed Monetary Policy Report.

Above mentioned economic news and data could have a volatile on the dollar.

Canada

At 6.00pm-

Employment Change. Data is foreseen at 27.3k from previous 26.7k.

Unemployment Rate. Data is foreseen at 6.3% from previous 6.2%.

Above mentioned economic news and data could have a volatile impact on the dollar.

Happy Trading!

Commodity Samachar
Learn and Trade with Ease

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