| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | Germany | CPI, m/m | July | 0.1% | 0.3% | 0.3% |
| 06:00 | Germany | CPI, y/y | July | 2.2% | 2.3% | 2.3% |
| 07:00 | Switzerland | SECO Consumer Climate | July | -36.6 | -36 | -32 |
CAD traded flat and mixed against other major currencies in the European session on Friday as investors waited for the release of Canada’s employment data for July later in the day, which could impact markets’ bets on further Bank of Canada interest rate decreases.
The much-anticipated Canada’s labour market report will be published at 12:30 GMT. Economists expect the report will show the Canadian economy added 22,500 jobs last month after shedding 1,400 jobs in June, and the unemployment rate increased to 6.5% from 6.4%.
If the report comes cooler than expected, this will reinforce markets’ bets on another 25-basis point rate decrease at the BoC’s September 4 meeting. It would be the third straight meeting in which the Canadian central bank has decided to lower its benchmark rate.