What are the main events for today? | investingLive

In the European session, we don’t have much on the agenda other than a couple of low tier releases like the Italian Retail Sales and the final Eurozone Q3 GDP. None of the data will change anything for the ECB, so the market reaction will likely be muted.

In the American session, the main highlight will be the Canadian labour market report, but we will also have the UMich consumer sentiment data and the September US PCE.

The Canadian employment report is expected to show -5K jobs lost in November vs +66.6K prior with the Unemployment Rate ticking higher to 7.0% vs 6.9% prior. We’ve been in a very strong streak for Canadian jobs data for a couple of months. In any case, the data won’t change anything for the BoC at this point as the central bank ended the easing cycle.

The UMich consumer sentiment is expected at 52.0 vs 51.0 prior. Despite falling to the lowest level since 2022 recently, this report hasn’t been a market-mover. Inflation expectations remain elevated but have been easing from the cycle highs.

Lastly, we will get the September US PCE report which will likely be ignored given that it’s very old data and won’t change anything for the Fed. Headline PCE Y/Y is expected at 2.8% vs 2.7% prior, while the Core PCE Y/Y is seen at 2.9% vs 2.9% prior.

Central bank speakers:

• 15:10 GMT/10:15 ET – ECB’s Lane (neutral – voter)