The Bank of Canada on Wednesday is expected to cut its policy rate by 25 basis points for a third meeting in a row, this despite better-than-expected second-quarter growth of 2.1 percent. The US employment report on Friday is the other big event, expected to rebound 160,000 for nonfarm payroll growth following July’s disappointing 114,000 gain.
Other data will include Swiss consumer prices and GDP on Tuesday, both expected to remain unchanged at 1.3 percent year-over-year and 0.5 percent quarter-over-quarter, respectively. German manufacturing orders on Wednesday are expected to fall back in July after jumping higher in June with German industrial production on Friday likewise expected to fall back after rising in June.
