Economic News To Watch This Week

Highlights from the previous week: The week opened with most banks closed in observance of Labor day. It was such a busy week in the markets in terms of economic news flow. New Zealand Employment Change rose to 1.2% from expected 0.8% while their Unemployment Rate decreased from expected 5.1% to 4.9%. UK Construction PMI rose to 53.1 from expected 52.1. U.S ADP Non-Farm Employment Change was slightly changed to 177k from expected 178k. UK Services PMI also rose from expected 54.6 to 55.8. Canada Unemployment Rate decreased by 0.2% from expected 6.7% reaching 6.5%. U.S Non-Farm Payrolls rose by 17K  from expected 194K reaching 211K. Average Hourly Earnings which measures the price businesses pay for labor on an hourly basis held steady at 0.3%. U.S Unemployment rate decreased by o.4% from expected 4.6% to 4.4%. Despite all the positive prints on the U.S Dollar, the greenback did not move as expected. The markets seemed to be more focused on other things than Job numbers and Janet Yellen had her speech later in the day on Friday.

At the time of this publication, French people are on the polls deciding on their 25th presidential elections. Looking forward to a very interesting week, filled with trading opportunities. Will it be Macron or Le Pen? Only a few hours will tell. G7 meetings will take place on Friday. G7 meetings are all about Finance Ministers and Central Bankers talking to the reporters and later releasing a statement covering policy shifts and meeting objectives (more like a press conference) the whole day. G7 consists of the following industrialized nations: Canada, Italy, France, Germany, Japan, the UK, and the US. Extreme volatility is expected from both the comments and the statement.

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