BoC and US ADP employment amongst market movers today – Danske Bank
The ECB's Yves Mersch is due to speak in Frankfurt (11:30 CET) on the theme 'Challenges for Monetary Policy in 2018', and will be the last ECB speaker before the silent period ahead of the December meeting, points out the research team at Danske Bank.
“This afternoon, the US ADP employment report for November is due. It is not a good predictor of the monthly non-farm payrolls but nevertheless tends to get some attention as a warm-up for Friday's payrolls. The October ADP employment increase was quite robust at +235k.”
“The Bank of Canada is due to announce its rate decision at 16:00 CET. We and consensus expect rates to be unchanged at 1.0%. The Bank of Canada raised rates in July and September by 25bp at each meeting.”