Trader’s Calendar Today

In the European session, the main focus was on the UK employment report. The data was mixed, but it did not change anything for the Bank of England. All data from April is outdated, and the market will largely ignore it. The only thing that could have an effect is a sharp increase in US jobless claims to new cyclical highs. Later, the German ZEW index data will be released, but they are unlikely to have a significant impact.

In the American session, the main focus is on inflation data from Canada. Core inflation in the country has been rising recently, complicating the task for the central bank amid slowing growth due to tariffs.

15:30 – Canada Inflation for March Annual inflation in Canada is expected to remain at 2.6%, the same as before, while the monthly figure is expected to be 0.6%, compared to 1.1% previously. The “trimmed mean” indicator is expected to reach 3.0% on an annual basis, compared to 2.9% before, while the median inflation is also expected to be 3.0%, up from 2.9%.

Inflation has started to accelerate after aggressive easing by the central bank, and tariffs are expected to maintain high price pressures while also weighing on growth. The market expects 44 basis points of easing by the end of the year, with a 61% probability that the central bank will keep rates unchanged this week.

Central Bankers’ Speeches: 18:35 – Barkin from the Federal Reserve (neutral – no voting rights)