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Events to Look Out for Next Week

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  • Event of the Week – Non-Farm Payrolls (USD, GMT 12:30) – A 200k June nonfarm payroll increase is anticipated, after gains of 339k in May, 294k in April, and 217k in March. We have divergent risk from a rise in initial claims but a fall in continuing claims into June. The jobless rate is expected to hold steady at 3.7% from May, versus a 54-year low for the two-digit rate of 3.43% in January. Hours-worked are assumed to rise 0.1% after a -0.1% May drop, while the workweek holds steady at 34.3. Average hourly earnings are assumed to rise 0.3%, after a 0.3% gain in May, while the y/y wage gain should be steady from 4.3%. The ensuing strength in wage gains has allowed continued robust y/y increases, though the return of low-paid workers to the workforce is likely restraining wage increases.
  • Employment Change & Unemployment Rate (CAD, GMT 12:30) – Canada reported a -17.3k drop in employment in May after climbing 41.4k in April. This was the first decline since last August’s -24.8k slump and was much weaker than expected. Concurrently, the unemployment rate rose to 5.2% from 5.0%, while the hourly wage rate of permanent employees dipped to 5.1% from 5.2%. These data justify the lack of forward guidance in the BoC’s policy.
  • ECB President Lagarde Speech (EUR, GMT 16:45)

Click here to access our Economic Calendar

 

Andria Pichidi

Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.






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Having completed her five-year-long studies in the UK, Andria Pichidi has been awarded a BSc in Mathematics and Physics from the University of Bath and a MSc degree in Mathematics, while she holds a postgraduate diploma (PGdip) in Actuarial Science from the University of Leicester.


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