In the European session, we don’t have anything on the agenda other than the swiss consumer confidence data which won’t be market-moving.
In the American session, the only highlight is the Canadian employment report. The consensus sees 13.5k jobs added in July vs 83.1k prior and the unemployment rate to tick higher to 7.0% vs 6.9% prior.
The BoC is now in a long pause as underlying inflation climbed back up to the upper bound of their 1-3% target range and the overall data hasn’t been screaming for more rate cuts just yet. The market is pricing a 61% chance of a rate cut at the December meeting.
The data is unlikely to change the pricing much unless we get big deviations.
This article was written by Giuseppe Dellamotta at investinglive.com.
