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Two major employment reports will offer an update on the North American labour market on Friday, as both the U.S. and Canada release new data. Meanwhile, European markets will be hit with a slew of industrial production figures.Here’s what you need to know.
- Australia starts things off at 9:30 p.m. on Thursday evening with a reading of its construction industry through the AIG Construction Index.
- Announcements go quiet until 1:00 a.m. on Friday morning, when Japan’s coincident indicator hits. Economists forecast a preliminary May reading will show a slight decline to 95.9.
- Swedish unemployment follows at 2:00 a.m., with expectations for a 30 basis point increase to 4.3 per cent in June.
- At 2:45, a reading of the French trade balance will be released. Consensus is for a narrowing deficit in May, falling to -€5.5 billion.
- Spanish industrial output hits at 3:00 a.m. Economists predict output declined 8.1 per cent year-on-year in May.
- Norwegian manufacturing production is expected to contract 0.1 per cent sequentially in May, when announced at 4:00 a.m.
- U.K. producer prices follow at 4:30 a.m., with consensus for a 2.1 per cent month-on-month decline in June.
- German industrial production will be announced at 6:00 a.m. Forecasts are for a 0.2 per cent gain in May from a month earlier.
- Attention shifts to the U.S. at 8:30 a.m., with the Non Farm Payrolls report for June. Economists expect payrolls expanded by a net 95,000 positions during the month, while private payrolls advanced by 103,000. Unemployment is expected to remain flat at 8.2 per cent.
- Canadian unemployment is also scheduled for 8:30 a.m. Consensus is for the rate to remain unchanged at 7.3 per cent in June.
- Closing out the day at 10:00 a.m. is Canadian Ivey PMI. Economists forecast the index declined 3.5 points to 57 in June.
There are no major earnings announcements scheduled for the day.
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.