Here are the key factors to keep in mind today for US Dollar trades:
- US NFP: The US NFP report for October is predicted to show 184,000 jobs which were added for the month. Forex traders can compare this to the NFP report of September which showed 142,000 jobs were added. The unemployment rate is predicted to show a level of 5.0% and the labor force participation rate is predicted to show a level of 62.4%. Forex traders can compare this to September were the unemployment rate was 5.1% and the labor force participation rate was at 62.4. Private payrolls for October are predicted to show 165,000 jobs were added and the manufacturing sector is predicted to report a loss of 5,000 jobs. Forex traders can compare this to September were 118,000 jobs were added in the private sector and 9,000 manufacturing jobs were lost. Forex traders need to add the two month revision for August and September to today’s number in order to get a better reading. The underemployment rate for October is predicted to show a level of 9.9% and the average work-week is expected at 34.5 hours. Forex traders can compare this to September’s underemployment rate of 10.0 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 September’s average hourly earnings of 0.0% monthly and 2.2% annualized. The change in household employment is predicted to show 200,000 jobs were added in October. Forex traders can compare this to September’s report which showed 148,800jobs were added.
- US Consumer Credit: Consumer Credit is predicated at $17.750 billion for September. Forex traders can compare this to August Consumer Credit of $16.018 billion.
Here is the key factor to keep in mind today for Canadian Dollar trades:
- Canadian Employment Report: The Employment Report for October is predicted to show 10,000 jobs were added during the month. Forex traders can compare this to September where 12,100 jobs were added. The unemployment rate is predicted to show a level of 7.1% and the labor force participation rate a level of 65.8%. Forex traders can compare this to September’s unemployment rate of 7.1% and labor force participation rate of 65.9%.
- Canadian Building Permits: Building Permits for September are predicted to increase by 1.5% monthly. Forex traders can compare this to August’s decrease of 3.7% monthly.
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
