Weekly Market Outlook: 2nd – 6th December for Forex Trading

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This week is packed with key economic events that will give us a closer look at the health of the global economy. Here’s what to watch for:

– Monday kicks off with the U.S. ISM manufacturing PMI, a crucial indicator for the manufacturing sector.
– Tuesday brings Swiss inflation data and JOLTS job openings in the U.S., offering insights into labor market conditions.
– Wednesday features Australia’s GDP q/q data and key indicators like ADP non-farm employment change and ISM services PMI in the U.S.
– Thursday focuses on U.S. unemployment claims data, giving us a weekly snapshot of the labor market.
– Friday is jam-packed with economic events: Japan’s average cash earnings y/y, Canada’s employment change and unemployment rate, and a slew of data from the U.S. including average hourly earnings m/m, non-farm employment change, unemployment rate, and consumer sentiment indices.

Analysts are keeping a close eye on various indicators, such as the U.S. ISM manufacturing PMI, Swiss inflation numbers, and Australia’s GDP growth. In the U.S., the services sector continues to show resilience, driven by strong consumer demand. While job creation in Canada is expected to be modest, the labor market remains a challenge due to population growth.

Overall, the economic outlook seems positive, with expectations of rate cuts and steady growth in various sectors. As we head into the week, keep an eye on these key economic updates for a better understanding of the global economic landscape. Happy trading!

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