The European session is once again empty as we will just get the final inflation readings for Germany and Italy. Moving on to the American session, we will get the Canadian jobs report which is the only notable event for today.
12:30 GMT/08:30 ET – Canada July Labour Market report
The Canadian
Labour Market report is expected 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. As a reminder, the BoC
cut interest rates to 4.50% at the last meeting and signalled further rate cuts
ahead. The market is pricing a 90% probability of a 25 bps cut in September and a total of 75 bps of easing by year-end.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
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