Here are the key factors to keep in mind today for US Dollar trades:
- US NFP: The US NFP report for November is predicted to show 200,000 jobs which were added for the month. Forex traders can compare this to the NFP report of October which showed 271,000 jobs were added. The unemployment rate is predicted at a level of 5.0% and the labor force participation rate is predicted at a level of 62.4%. Forex traders can compare this to October were the unemployment rate was 5.0% and the labor force participation rate was at 62.4. Private payrolls for November are predicted to show 190,000 jobs were added and the manufacturing sector is predicted to show no job additions or losses. Forex traders can compare this to October were 268,000 jobs were added in the private sector and no manufacturing jobs were lost or added. Forex traders need to add the two month revision for September and October to today’s number in order to get a better reading. The underemployment rate for November is predicted to show a level of 9.8% and the average work-week is expected at 34.5 hours. Forex traders can compare this to October’s underemployment rate of 9.8 and to the average work-week of 34.5 hours. Average hourly earnings for October are predicted to show an increase of 0.2% monthly and 2.3% annualized. Forex traders can compare this to October’s average hourly earnings of which rose 0.4% monthly and 2.5% annualized. The change in household employment is predicted to show 200,000 jobs were added in November. Forex traders can compare this to October’s report which showed 320,000 jobs were added.
- US Trade Balance: The Trade Balance is predicated at a deficit of $40.50 billion for October. Forex traders can compare this to the September Trade Balance which showed a deficit of $40.81 billion.
Here is the key factor to keep in mind today for Canadian Dollar trades:
- Canadian Employment Report: The Employment Report for November is predicted to show 12,500 jobs were lost during the month. Forex traders can compare this to October where 44,400 jobs were added. The unemployment rate is predicted to show a level of 7.0% and the labor force participation rate a level of 65.9%. Forex traders can compare this to October’s unemployment rate of 7.0% and labor force participation rate of 66.0%.
- Canadian Ivey PMI: The Ivey PMI for November is predicted at 53.5. Forex traders can compare this to October’s Ivey PMI of 53.1.
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