Important upcoming events and publications for June 7 (GMT):
12:30 U.S. Employment Report. Risks for USD: high. At the end of May, employment is expected to grow by 180K after 263K, maintaining the growth rate of wages at 3.2% y/y and the unemployment rate at 49-year lows of 3.6%. Weak data can cause pressure on the Dollar.
12:30 Canada Employment Report. Risks for CAD: moderate. The report can be shadowed by that of the U.S. A modest increase in the number of employees by 5K is expected after the jump by 106.5K one month earlier. Weak data can cause pressure on the Canadian dollar.
17:00 U.S. Rig Count. Risks for Brent, WTI: moderate. The increased volatility of Oil prices recently forms the basis for sharp price movements in the publication of data. The number of working drilling rigs has been declining since the beginning of the year, but surprisingly slightly increased last week despite lower prices. Further growth could put pressure on oil.
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