*OspreyFX would like to state that traders should research extensively before following any information given hereby. Any assumptions made in this article are provided solely for entertainment purposes and not for traders to guide or alter their positions. Please read our Terms & Conditions and Risk Disclosure for more information.
Key Takeaways
- Events ahead include key US jobs data on Friday as non-farm payrolls report is on deck
- Inflation numbers for Europe will highlight shifting consumer prices for November
Big Week with US Jobs Data, Euro Zone Inflation
The week starting Monday, November 29, has a lot of important news and economic events to unpack. This said participants in the financial markets will be watching for US jobs data, eurozone inflation, Australian GDP, and much more. Let’s dive right in.
We skip Monday for lack of any major scheduled economic events and move on to the next day.
On Tuesday, the weekly economic events kick in with Germany’s unemployment change for November. The report is slated for release at 03:55 am EST. Next, at 05:00 am EST, eurozone inflation data will reveal price changes for November, compared with a year ago.
GDP Data from Canada and Australia
Canadian GDP data for September is scheduled for 08:30 am EST. Afterward, the US releases its CB Consumer Confidence for November.
To conclude the day, Australia will publish its GDP numbers for the third quarter on a quarterly basis at 07:30 pm EST.
On Wednesday, the German Manufacturing PMI figures for November arrive at 03:55 am EST. The UK Manufacturing PMI for November follows right after at 04:30 am EST. At 08:15 am EST, the US reports its ADP nonfarm employment change for November. Next, at 10:00 am EST, the ISM Manufacturing PMI data comes from the US.
Skipping Thursday as no key reports are on deck for the day.
High Hopes for US Jobs After Weekly Jobless Claims Record
On Friday, arguably the most important monthly economic report lands at 08:30 am EST. Namely, the US non-farm payrolls, or jobs data, for November. The number is keenly-anticipated for it will highlight the pace of economic recovery in the US.
In more detail, it will show how many new jobs were added to the labor market in November. Current projections point that US employers added 563,000 new hires over the past month. Keep in mind last week’s initial jobless claims reached a multi-year low. More precisely, weekly claims for unemployment benefits declined to 199,000, the lowest level since 1969.
On that note, traders and investors will expect the upbeat economic performance to continue. Moreover, they will be looking for fresh entry points in forex and stocks as well as commodities.
Unemployment Data from Canada
Besides the key non-farm payrolls data, Friday also brings us Composite and Services PMI data for the UK at 04:30 am EST. At 08:30 am EST, the US will report its unemployment rate along with the jobs number.
In Canada, the employment change for November will be revealed, also at 08:30 am EST. At 10:00 am EST, the US reports its ISM Non-Manufacturing PMI data for November.
In other news, Federal Reserve Chairman Jerome Powell is slated to speak twice before lawmakers in the upcoming week. He could reveal key insights into the Fed’s policy shifts and investors will be watching.