Today we will have Swiss inflation data, US non-farm payrolls datannfp, and the ISM industrial Purchasing Managers Index are the highlights of the day.
We don't have much today during the European session, as the Swiss consumer price index was released a little while ago, the only highlight was the decline of -0.1%, while expectations were for it to rise from -0.3% to 0.0%, and this is considered a big failure and reinforces the need for the Swiss National Bank to move faster on the cuts.
The market is likely to prefer a 50 basis point cut for December now.
In general, I don't think the data this week matters much as we have the US elections on Tuesday, but it can still move the market and add some additional information to the bigger picture.
2:30 pm Egypt time - non-farm payrolls in the United States
The US non-farm payrolls report is expected to show the addition of 113 thousand jobs in October compared to 254 thousand jobs in September, and the unemployment rate will remain unchanged at 4.1%, and the monthly measure of average hourly wages is expected to decline 0.4% to 0.3%.
This report will be difficult given the distortions caused by hurricanes and strikes in October, but the markets are unlikely to pay much attention to the data given the focus on the US elections.
4:00 pm-manufacturing PMI for October in the United States
The October PMI is expected to rise from 47.2 to 47.6.
