1. Friday – AUD Retail Sales (m/m) @1:30am
2 Friday¬ - CAD Employment Change @ 2:30pm
3. Friday - US Change in Nonfarm Payrolls @2:30pm
AUSTRALIA RETAIL SALES - The Australian retail sales is scheduled to be released on Friday. It is expected to show the Australian economy expanded by 0.4% m/m for the month of November. A better than projected estimate would be positive for the Aussie while a worse than projected estimate would be negative for Aussie.
CANADIAN EMPLOYMENT CHANGE - Canada will be having its employment change report on Friday. The employment report which consist of full-time and part-time employment change. This means the report can be misleading if Full-Time contrasts with the headline. The prior employment change was at –71.2k and it is expected to have added 31.8k jobs in the month of December. Also, the unemployment rate is expected to show 5.8%. Therefore, any significant deviation from market expectation will likely influence the CAD. A better than expected figure will strengthen CAD while a worse than expected figure will weaken the loonie.
US CHANGE IN NONFARM PAYROLLS - The US Nonfarm Payrolls is scheduled to be released on Friday. The US economy is projected to have created 164k jobs in December, which would be a deviation from the prior 266k. The average hourly earning is forecast to remain at 3.1% m/m. An overall positive bias in the US employment, average earnings and unemployment rate should see USD strengthen, providing a USD long opportunity. Conversely, an overall negative bias should result in USD weakness, presenting a short opportunity.