Nonfarm Payrolls, bank meetings and Chinese data

Economic calendar summary
The first full week of December brings central bank meetings from Australia and Canada, as well as labor market data from the US. Interest rates in both Australia and Canada are expected to remain unchanged while Nonfarm Payrolls are expected to rebound to 185k.
Wednesday night features China's Balance of Trade report; usually a mid-tier economic event, last month's reading caused an outsized reaction in global markets after trade surplus missed expectations by over $25 billion. Forex traders can benefit from open markets before and after the 10pm ET data release.
Interest Rate Decision - Australia
Previous: 4.35%
Expected: 4.35%
The Reserve Bank of Australia is expected to maintain a 4.35% cash rate at this week's meeting after a 25bps hike in November. AUD/USD continues to trade above 0.6600 after closing at a 4-month high on Friday.
JOLTs Job Openings - US
Time: 10:00am ET Tuesday, December 5th
Previous: 9.553M
Expected: 9.3M
Traders will get a preview of Friday's extensive job report with Job Openings on Tuesday. While expected to fall for the first time since July, JOLTs reports have beaten expectations the past two readings.
Interest Rate Decision - Canada
Time: 10:00am ET Wednesday, December 6th
Previous: 5.00%
Expected: 5.00%
Little has changed since the Bank of Canada's October meeting to merit a change in interest rates this week. However, much like the US, insight over 2024 rate expectations may cause price action in USD/CAD as traders continue to speculate who will cut rates first.
Trade Balance - China
Time: 10:00pm ET Wednesday, December 6th
Previous: $56.53B
Expected: $58.1B
China's trade surplus is predicted to rebound after the world's largest exporter missed expectations by over $25 billion last month. This decline caused a downturn in Asian markets and movement against the Australian dollar and Japanese yen.
Nonfarm Payrolls - US
Time: 8:30am ET Friday, December 8th
Previous: 150k
Expected: 185k
Forecasts predict 185,000 US jobs were added in November, an increase from October's 150,000. October's report was below market expectations while September's were well above. Traders will look to the full jobs report for emerging trends in unemployment ahead of the Fed's meeting next week.
How to trade economic events
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