Forex Market Economic Calendar for Friday 3rd November 2017

November 3, 2017

3 min

The main economic event for today is the US Non-Farm Payrolls. There is also important economic data expected for the US economy, such as the Balance of Trade, Factory Orders, Unemployment Rate, and data related to the economies of UK, Canada, Spain and Australia. A rich economic calendar for the last trading session of the 1st week of November with high volatility expected.
These are the main economic events to focus on today in the forex market:

European Session

  1. Spain Unemployment Change, Consumer Confidence

Time: 08:00 GMT, 09:00 GMT
Higher readings for the consumer confidence and lower for the unemployment change are positive for the economy of Spain and supportive for the Euro. A lower value reflects on a strong labor market, adding to consumer spending, economic growth and the possibility of a rate hike by central banks

  1. UK Markit/CIPS Services PMI

Time: 09:30 GMT
The PMI index for the services sector records business conditions in the service sector, which accounts for the overall economic sector. A value above 50.0 indicates industry expansion and below indicates contraction. The forecast is for a reading of 53.3, marginally lower than the previous reading of 53.6.

  1. ECB Coeure Speech

Time: 20:15 GMT
Central banks official’s speeches are always important and monitored for updates and insights on economic conditions and growth, inflation prospects.

American Session

  1. Canada Unemployment Rate, Employment Change, Participation Rate, Balance of Trade

Time: 12:30 GMT
The unemployment rate is expected to remain unchanged at 6.2%, employment change is expected to increase to 15K, higher than the previous figure of 10K, while the balance of trade is expected to show a narrower deficit, with a reading of  C$-3B, lower than the previous figure of C$-3.41B. Overall these are all positive news, supportive for the Canadian Dollar.

  1. US Non-Farm Payrolls, Balance of Trade, Unemployment Rate, Participation Rate, Average Hourly Earnings

Time: 12:30 GMT
A plethora of very important economic data about the US economy. Non-Farm Payrolls are expected to rise to 310K, higher than the previous extraordinary negative reading of -33K, attributed to the hurricanes effects. Unemployment rate is expected to remain stable at 4.2%, the trade deficit to widen, and the hourly earnings to increase but at a lower growth. The forex market after the unchanged monetary policy by the Fed on Wednesday 1st November 2017, will focus on the figure of the Non-Farm Payrolls, as a high reading will increase the probabilities of an interest rate hike by the Fed in December, a positive factor for the US Dollar.

  1. US Markit Services PMI Final, Factory Orders, ISM Non-Manufacturing PMI, ISM Non-Manufacturing Employment, Markit Composite PMI Final, ISM Non-Manufacturing Business Activity

Time: 13:45 GMT, 14:00 GMT
Another set of important economic data will be released after the previous ones related to the health of the US economy. In general higher than expected or rising figures for all mentioned indexes will be positive for the US Dollar, reflecting increased economic and business activity, growth and expansion.

  1. Fed Kashkari Speech

Time: 16:15 GMT
As in the case of the ECB official Coeure Speech, this time the Speech from a member of the Fed is important on economic policy and conditions of the US economy.

Pacific Session

  1. Australia Retail Sales

Time: 00:30 GMT
The forecast is for an increase on a monthly basis with a reading of 0.4%, higher than the previous figure of -0.6%, being positive for the Australian Dollar as higher retail sales reflect increased consumer confidence and spending, which lead to higher economic growth over time, measured by GDP.

What should you learn next? Turn the wheel to find out!

rainbow circle

7 Money Management Techniques

share

previous post

The 2024 US Election: How Will the Markets React?
US election impact on markets
The 2024 US Election: How Will the Markets React?

next post

Jerome Powell – Next Fed Chairman
Jerome Powell – Next Fed Chairman

Latest posts

The 2024 US Election: How Will the Markets React?

31.10.2024

US election impact on markets

Breaking a Losing Streak

29.10.2024

How to Trade Commodities on IQ Option: A 360° Guide

14.10.2024

Trading commodities on IQ Option

The US Presidential Race 2024 Market Influence: What You Need to Know Now

11.10.2024

Top TV Series and Reality Shows about Trading

07.10.2024

Top TV shows about trading

Short Selling: How to Trade Forex in a Downward Market

30.09.2024