Eyes will mainly be on the US nonfarm payroll report, and forexlive is no exception:
- Goldman Sachs US Nonfarm payroll preview
- US nonfarm payroll data due Friday 5 October 2018 - preview
- US nonfarm payroll data due Friday 5 October 2018 - preview 3
- US nonfarm payroll data due Friday 5 October 2018 - more preview
But, yeah, its also jobs day in Canada. What to expect? This via RBC:
- We are forecasting a below-trend 5K gain in employment in September following a large loss in August (-51.6K) and a large gain in July (+54.1K).
- The latter came with a 36.5K gain in educational services, a typically volatile sector in the July through September period due to changing hiring patterns. We expect a 30K decline from the category in September, mostly offset by a 24K increase in goods industries after 67K of losses in July and August.
- Despite the smaller job gain, we do anticipate that the unemployment rate will edge down to 5.9% due to a 12K decline in the labour force. Average hourly earnings growth for permanent employees fell to 2.6% y/y in August after peaking at 3.9% in May, though the BoC's preferred wage-common measure has remained stable at 2.4% throughout 2018.
