Economic News

Category: Fundamental News

1. Friday- AUD Retail Sales (m/m) @2:30am
2. Friday- CAD Employment Change @1:30pm
3. Friday- Non Farm Payrolls @1:30pm

GBP MARKIT SERVICES PMI: The UK Manufacturing PMI(Purchasing Manager Index) Service will be release on Wednesday. The Manufacturing PMI is an indicator of activity in the Manufacturing, services and construction sectors. PMI is forecast to fall to 54.0 from 54.3 of the previous month. Although, uncertainty continued to hold back business-to-business spending, especially in relation to large scale spending. A better than expected outcome will be positive for GBP while a worse than expected outcome will be negative for GBP.

AUD RETAIL SALES: in Australia, the retail sales report will be release on Friday. It is forecast to rise by 0.2% compared to the month of July. A better than expected figure will strengthens Aussie while a worse than expected figure will weakens Aussie.
CANADIAN EMPLOYMENT CHANGE: The Canadian employment report will be release on Friday. The previous employment report showed that the Canadian economy cut 51.6 thousand jobs in August, after creating 54.1 thousand in July. Employment declined in Ontario and increased in Alberta and Manitoba, while it was a little change in other provinces. According to the forecast, the market is expecting 25 thousand jobs were added in September. A worse than expected figure will be negative for CAD while a better than expected figure will be positive for CAD.

US NON FARM PAYROLLS: The United Nation will release its Non farm payrolls report on Friday. The US economy is forecast to have added 188 thousand jobs in September which is lesser than the 201 thousand jobs added in the month of August. The market focus will be on the average earnings in particular. Average earnings MM is expected to slow from 0.4% to 0.3% and average earnings YY to drop to 2.8% from 2.9%. A better than expected figure will be good for USD while a worse than expected outcome will be bad for Greenback.

Published: 2018-10-03 04:51:25