After a disappointing FED meeting this week, in which markets were left confused as to when the FED plans on hiking rates, investors will be looking at today’s release of the US Non-Farm Employment Change (NFP) for clues as the FED continues its “wait and see “stance.

The NFP is one of the most important figure out of the US for the month, is expected to see a slight increase to 170k, from 156k. The Federal Reserve Bank (FED), who make the monetary policy decisions for the USA, watch this figure very closely as it is regarded as an early indicator of health in the jobs markets, with better than expected data implying that employment is improving and that an improvement in the overall economy can be expected as the new jobs see increases spending and confidence by individuals which would see the USD strengthen as gold and equities slump. Worse than expected data has the opposite effect, depreciating the USD and propping up the commodities and equities sectors.

Today’s key economic releases are as follows:

CAD

  • Employment Change expected at -10k
  • Unemployment Rate expected at 7%
  • Trade Balance expected at -1.7B
  • Ivey PMI expected at 56.2

USD

  • Average Hourly Earnings m/m expected at 0.3%
  • Non-Farm Employment Change expected at 174k
  • Unemployment Rate expected at 4.9%
  • Trade Balance expected at -37.5B
  • FOMC Member Fischer Speaks