Non-Farm Payrolls - Weekly Report 03-07/11/14

The new trading month starts out strongly on Monday the 3rd, with the United States ISM Manufacturing PMI report for October, due out at 15:00. Not much change is seen in the benchmark, which is expected to rise to 56.7 from 56.6, indicating a sideways direction in the US’ manufacturing sector.

Aussie dollar traders could see some movement on the currency’s crosses on Tuesday, when the Bank of Australia releases its latest interest rate decision at 03:30. Currently, the cash rate stands at 2.5 percent, the lowest-ever in a country where the average interest rate is 5.9 percent. New Zealand’s Unemployment Rate is next on the list of market-moving events, due to be announced at 21:45 and formerly at the level of 5.6 percent.

On Wednesday the 5th, Switzerland reports its annual Consumer Price Index at 08:15, last seen at the level of minus 0.1 percent. Then, there’s more data out of the United States, with the ISM Non-Manufacturing PMI report at 15:00.

Thursday the 6th has no less than four market-moving events, starting at half-past midnight in Australia with the Employment Change, which was last reported at the level of minus 27,900. Australia’s Unemployment Rate for October is released at the same time, and was last seen at the level of 6.1 percent. At 12:00 there’s a big event out of the UK, when the Bank of England announces its interest rate decision. The BoE has kept the rate steady at 0.5 percent, and also at a historic low to encourage economic recovery. Finally, the European Central Bank releases its interest rate decision at 12:45, and it’s worth noting that analysts don’t expect a rate rise anytime soon, after ECB chief Mario Draghi introduced negative interest rates on overnight deposits in an attempt to push Europe’s banks into a more liberal lending policy.

On Friday the 7th, the trading day highlights begin at half-past midnight with Bank of Australia’s Monetary Policy statement. Canada gives us the next highlight at 13:30, when it announces its Net Change in Employment for October, previously at the level of 74.1 thousand. Also coming up at 13:30 is the traders’ favourite event - the US releases its Non-Farm Payrolls data, previously at 248 thousand and expected to come in at 233 thousand.