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Light calendar as the U.S. shutdown curbs data flow; focus shifts to UoM sentiment.
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Canada jobs and Italy IP could sway FX/rates; U.S. inflation expectations seen unchanged.
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Fed’s Goolsbee and Musalem may colour near-term rate-cut expectations.
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Light calendar as the U.S. shutdown curbs data flow; focus shifts to UoM sentiment.
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Canada jobs and Italy IP could sway FX/rates; U.S. inflation expectations seen unchanged.
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Fed’s Goolsbee and Musalem may colour near-term rate-cut expectations.
Today’s macro calendar is relatively light, and the U.S. government shutdown is dragging on, limiting the number of U.S. data releases. Today’s University of Michigan survey should offer a read on how the shutdown and labour-market uncertainty are shaping household sentiment.
Economic calendar
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8:00 AM GMT – Italy: Industrial production — expected -0.4% m/m (previous -0.4%).
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12:30 PM GMT – Canada: Labour market report
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Unemployment rate: 7.2% expected (previous 7.1%)
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Employment change: +5k expected (previous -65.5k)
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Average hourly wages: 3.6% y/y expected (previous 3.6%)
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2 PM GMT – U.S.: University of Michigan (prelim.) consumer sentiment — headline 54 expected (previous 55.1)
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Expectations index: 51.4 expected (previous 51.7)
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Current conditions: 60.0 expected (previous 60.4)
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5-yr inflation expectations: 3.7% expected (previous 3.7%)
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1-yr inflation expectations: 4.7% expected (previous 4.7%)
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Fed speakers
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1:45 PM GMT — Austan Goolsbee
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5 PM GMT — Alberto Musalem
BREAKING: Preliminary UoM data in line with expectations 📌
BREAKING: USDCAD slips following Canadian employment data 📌
Italian industrial production much weaker than expected 📉
BREAKING: Norwegian CPI slightly higher than expected
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