The market is waiting for important reports. Most of the reports will be on the workforce. These types of reports can create confusion in currency pair situations. So what can we expect?
Japanese Household Spending
Japan released the Japanese Household Spending results at 1:30 CET. The reading was not as expected and was much lower. The current reading was -1.7%, while it was expected to drop from -1.4 to 0.2%. This is the second time in a row that the value of all expenditures by consumers decreased. This means that, once again, Japanese consumers have spent significantly less. The current reading is taken as negative.
Switzerland Unemployment Rate n.s.a.
At 7:45 CET, Switzerland published a report on the number of unemployed as a percentage of the workforce. The Unemployment Rate was expected to remain at the level of the previous reading (2.0%). The current reading is slightly better than expected, Unemployment Rate n.s.a. is 1.9%
On the other hand, Switzerland Unemployment Rate u.s.a. reached the level forecasted, ie 2.1%. Forecasts for this indicator were that the level would remain.
EU Leaders Summit
The EU Leaders Summit will take place at 12:30 CET. EU leaders usually meet in Brussels, in the Europa building. This time the meeting will be held in Prague. The third of the four scheduled meetings is to provide strategic guidelines on euro area economic policy. he leaders of the EU member states are set to discuss the Russia-Ukraine conflict, the rising costs of energy and its economic ramifications.
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Today we are waiting for speeches from different banks.
The Bank of England Monetary Policy Committee (MPC) Member David Ramsden will speak at 12:25 CET. His public engagements are often used to drop subtle clues regarding future monetary policy.
The next speech will be on the other side of the ocean. FOMC Member Williams will give a speech at 16:00 CET.
U.S. Nonfarm Payrolls
The forecast for new jobs in the non-agricultural sector is 250K, which is a very good indicator with an unemployment rate of 3.7%.
In March, Nonfarm Payrolls it reached its highest level, then it began to decline. Another highest level after declines was recorded in July and they will start to decline again at the same time.
Also at 14:30 CET, a report will also appear on the percentage of the total work force that is unemployed and actively seeking employment during the previous month. The expectations for this indicator are that its level from the previous reading will remain, i.e. the unemployment rate will be at the level of 3.7%
Canada’s Employment Change and Unemployment Rate
Canada at 14:30 CET publishes data on the number of people employed. The recent reading was negative and expectations for the current reading are positive. This number is expected to increase from -39.7K to 20.0K
The next report from Canada will be on the unemployment rate. The last reading was at 5.4% and it is projected to be at this level again this time.
- 1:30 CET Japanese Household Spending (MoM) (Aug)
- 7:45 CET Switzerland Unemployment Rate n.s.a. (Sep)
- 12:00 CET EU Leaders Summit
- 12:25 CET MPC Member Ramsden Speaks
- 14:30 CET U.S. Nonfarm Payrolls (Sep)
- 14:30 CET U.S. Unemployment Rate (Sep)
- 14:30 CET Canada’s Employment Change (Sep)
- 14:30 CET Canada’s Unemployment Rate (Sep)
- 16:00 CET FOMC Member Williams Speaks