What are the main events for today?
EUROPEAN
SESSION
In the
European session, we don’t have much on the agenda other than a couple of low
tier releases like the final French CPI and Italian industrial production. The
data is not going to change anything for the ECB, so the market reaction will
be muted.
Now that
the US-Iran situation seems contained, the focus shifted back to the US CPI
report coming out on Tuesday.
AMERICAN
SESSION
In the
American session, we have the Canadian employment report. The consensus sees
10K jobs added in June vs 87.8K in May and the unemployment rate remaining
unchanged at 6.6%.
The Bank of
Canada is in a neutral stance and has been highlighting economic weakness
despite acknowledging the possibility of rate hikes due to inflation risks. The data
today in unlikely to change much for the BoC, so the market reaction might be
limited unless we get very big deviations.
This article was written by flfeaa2662d774455a8d50fa77b791ed5f at investinglive.com.