Weekly Market Outlook: 02-06 December | Forex Trading Insights
Get ready, folks! This upcoming week is going to be jam-packed with financial news and updates. We’ve got some key events on the horizon, including the ISM Manufacturing PMI, Swiss CPI, and US jobs data.
Kicking off on Monday, the US ISM Manufacturing PMI is expected to show some improvement, with optimism in the manufacturing sector hitting a 31-month high. This positive outlook is fueled by reduced political uncertainty post-US Presidential Election and expectations of lower interest rates and better economic conditions.
Moving on to Tuesday, Switzerland’s CPI is expected to tick up slightly, while the US Job Openings data is anticipated to show a slight increase as well. Despite a recent drop in inflation in Switzerland, the market is keeping an eye on potential rate cuts by the SNB to support Swiss exporters.
Wednesday brings us the US ADP report, with expectations of a moderate figure compared to the previous report. While the ADP may not always accurately predict the NFP report, its data is closely watched by the market for any hints on interest rate changes.
On Thursday, US Jobless Claims data remains a key indicator of the labor market’s health. Initial Claims are expected to stay within a certain range, while Continuing Claims hover around cycle highs.
Finally, on Friday, keep an eye out for the Japanese Average Cash Earnings and Canadian Labor Market reports. The Japanese Yen could see a boost with a potential rate hike on the horizon. In Canada, a strong employment report could sway market expectations on rate cuts by the BoC.
And of course, all eyes will be on the US NFP report, expected to show positive job growth in November. The labor market data this month has been encouraging, so we may see an optimistic outlook going forward.
It’s going to be an eventful week in the world of finance and securities, so stay tuned for all the latest updates and insights!
