Highlights for next week: Bank of Canada and ECB are expected to cut rates. US jobs report

Next week two central banks meet and both are expected to cut rates.

• The Bank of Canada will announce their interest rate decision at 9:45 AM on Wednesday. They are expected to cut their rate to 4.75% from 5.0%. The last policy change was in July 2023 when they raise rates from 4.75% to 5.0%.
• The ECB is expected to cut their main financing rate to 4.25% from 4.5% at 8:15 AM ET. The last time the ECB changed rates was in September 2023

Other key events and releases next week include:

• Mon, Jun 3:

  • 9:45 AM ET: USD Final Manufacturing PMI: Forecast 50.9, Previous : 50.9
  • 10 AM ET: USD ISM Manufacturing PMI: Forecast 49.8, Previous: 49.2

• Tue, Jun 4:

  • 2:30 AM ET: CHF CPI m/m: Forecast 0.4%, Previous: 0.3%
  • 10 AM ET: USD JOLTS Job Openings: Forecast 8.40M, Previous : 8.49M
  • 9:30 PM ET: AUD GDP q/q: Forecast 0.2%, Previous: 0.2%

• Wed, Jun 5:

  • 8:15 AM ET USD ADP Non-Farm Employment Change:Forecast 175K, Previous: 192K
  • 10 AM ET USD ISM Services PMI: Forecast: 51.0, Previous: 49.4

• Thu, Jun 6:

  • 8:30 AM ET: USD Unemployment Claims: Forecast 215K, Previous: 219K

• Fri, Jun 7:

  • 8:30 AM ET: CAD Employment Change: Previous 90.4K
  • 8:30 AM ET: CAD Unemployment Rate: Previous 6.1%
  • 8:30 AM ET: USD Average Hourly Earnings m/m: 0.3%, Previous: 0.2%
  • 8:30 AM ET: USD Non-Farm Employment Forecast: 185K, previous: 175K
  • 8:30 AM ET: USD Unemployment Rate: 3.9%, previous: 3.9%

This article was written by Greg Michalowski at www.forexlive.com.