Signs mount that the Canadian consumer is slowing with jobs report due todayPBoC: Will guide reasonable credit growthFed’s Collins: It will be appropriate to ease soon if data aligns with expectationsWhat to watch out for on the economic calendar next week?US futures stick with the bounce from yesterday so far on the sessionWeekly update on interest rates expectationsItaly July final CPI +1.3% vs +1.3% y/y prelimEuropean equities keep slightly higher to start the dayFX option expiries for 9 August 10am New York cutWhat are the main events for today?Japan’s Nikkei salvages a positive close on the day, and just down over 2% on the weekGermany July final CPI +2.3% vs +2.3% y/y prelimLittle on the agenda in European morning trade todayJapan’s Nikkei stumbles in the final stages of trading todayA calmer mood set to greet European traders later
Markets:
CHF leads, AUD lags on the dayEuropean equities higher;
S&P 500 futures +0.20%US 10-year yields down 4.1 bps
to 3.951%Gold
up 0.20% to $2,432WTI
crude up 0.30% to $76.42Bitcoin
up 2.01% to $60726
The
European session today was once again uneventful with no fresh economic data or
notable headlines. The risk mood remains positive following yesterday’s US
jobless claims figures, and I don’t see anything that can change it going into
the weekend unless we get some scary headlines from the Middle East.
In the markets, risk assets are faring pretty well with equities and bitcoin being up to on the day. The major pairs are mostly flat and the US Treasuries are up. The notable mover is crude oil which is likely being supported by defensive positioning into the weekend risk as the tensions in the Middle East remain present.
In the American
session, we will get the Canadian labour market report where the consensus
expects the data to show 22.5K jobs added in July vs. -1.4K prior and the
Unemployment Rate to tick higher to 6.5% vs. 6.4% prior.
That’s all folks.
Have a great weekend!
This article was written by Giuseppe Dellamotta at www.forexlive.com.
