It's the biggest day of the month in the entire world of (Canadian) finance

<p>Frequently, Canada has to share the jobs spotlight with it's geographically-smaller neighbour to the south but today the loonie gets the spotlight all to itself.</p><p>Why no non-farm payrolls? I've <a href="https://www.forexlive.com/news/why-there-wont-be-a-non-farm-payrolls-report-next-week-20230224/" target="_blank" rel="follow">explained </a>this before but the full answer is that Bureau of Labor Statistics releases non-farm
payrolls on the fourth Friday following the week containing the 12th of a
given month, which in December's case will be the 8th of the month. So
because November 12th fell on a Sunday that only leaves three
Fridays in between then and now, which is evidently not enough time to prepare the
report.</p><p>But who cares? We've got Canadian data to trade. The consensus is +15K (FYI, the consensus is always +15-20K) and unemployment is expected to rise to 5.8% from 5.7%. As always, watch the full/part-time skew.</p><p>Recently, Canadian retail sales were very strong but yesterday's GDP number was soft. The BAX market is fully priced for 100bps in cuts next year with a further 37% chance of another 25 bps.</p><p>For more, see the <a href="https://www.forexlive.com/EconomicCalendar" target="_blank" rel="follow">economic calendar</a>.</p>

This article was written by Adam Button at www.forexlive.com.