US and Canadian jobs reports due at the bottom of the hour
Non-farm payrolls is my favourite breakfast.
The consensus is for 170K new jobs.
To me, this report doesn't matter much so long as it's above 120K. That's good enough for the Fed to hike in December.
What matters right now is politics. Clinton and Trump will try to score some points depending on the numbers but I don't think many Americans cast their vote based on the most-recent reading of non-farm payrolls.
If it's strong, I think the trade is to fade USD strength versus JPY, CHF and EUR. Election jitters aren't done.
If it's weak, expect rampant risk aversion into the weekend.
Don't forget about the Canadian report. The loonie is teetering at the moment and a weak report will put pressure on the BOC to cut. However, there is talk about problems in how Canadian jobs are calculated and that could be skewing this report higher.