The first half of the day is calm on the market; volatility is average. The most significant point of interest in the morning is caused by unemployment data in Switzerland, which showed an improvement on the labor market: unemployment fell by 0.2% and amounted to 2.1%, exceeding the expectations of investors.
The key event of the day is the speech by Federal Reserve Chairman Jerome Powell. According to the results of his speech, the value of the USD may change, as well as the demand for risky assets. Perspectives for easing the Fed's monetary policy worries investors. In addition, data on the number of open vacancies on the US labor market will be published today, and as the latest reports showed, the unemployment situation in the US has worsened, which might motivate the Fed to reduce the rate. In the afternoon there will also be data on the construction sector in Canada, although today investors will focus on events from the US.
At the end of the day traditionally expected data on the weekly oil reserves in the United States will be published. Meanwhile, oil is becoming cheaper amid concerns about global oil demand. There is every reason to expect a further decline in prices in case of a further increase in oil reserves, which means more supply on the market.
