What to Watch in the Day Ahead - Friday, Dec. 5

Thu Dec 4, 2014 2:47pm EST
 
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(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) The Labor Department is expected to report that non-farm payrolls increased 230,000 in November after rising 214,000 in October. The unemployment rate is forecast to remain at a six-year low of 5.8 percent, with wages rising a tepid 0.2 percent. Also, the Commerce Department is expected to report that the trade deficit narrowed to $41.4 billion in October from a $43.0 billion gap in September (0830/1330). Separately, the Commerce Department issues Factory Orders data for October (1000/1500) and the Federal Reserve releases Consumer Installment Credit for the same month (1500/2000). Federal Reserve Bank of Cleveland President Loretta Mester speaks before the 2014 Financial Stability Conference hosted by the Federal Reserve Bank of Cleveland and the Office of Financial Research (0845/1345). Meanwhile, Treasury Office of Financial Research Director Richard Berner also gives a luncheon speech before the Financial Stability Conference (1230/1730). Separately, Federal Reserve Vice Chair Stanley Fischer gives brief congratulatory remarks before the International Monetary Fund Fiscal Affairs Department 50th Anniversary Conference: "Fiscal Affairs, Past and Future" (1445/1945). The Bank of Nova Scotia will report fourth-quarter results, with profit slated to take a hit from a charge for soured bets in the Caribbean and Latin America. Scotiabank had warned it November it expected to book a pretax charge of C$451 million. Statistics Canada releases the trade balance data for October. A rise in exports and a sharp drop in energy imports, caused by refinery shutdowns, helped Canada post a surprise trade surplus of C$710 million in September (0830/1330). Meanwhile, the country's statistical agency also issues November jobs report. Canada unexpectedly added 43,100 new jobs in October, and the unemployment rate dropped to a nearly six-year low of 6.5 percent (0830/1330). Brazil's national statistics agency IBGE will release inflation numbers for November. The country's annual inflation rate is seen unchanged in November, adding pressure on the government to cut spending and raise interest rates, a Reuters poll showed. Consumer prices are seen rising 6.59 percent in the 12 months through November, equal to that of October and above the central bank's target ceiling of 6.5 percent, according to the median of 22 market forecasts for the benchmark IPCA price index. Mexico's central bank is expected to hold its benchmark interest rate steady at a record low to support a sluggish recovery while arguing that a recent spike in inflation will continue to cool. Nineteen of 20 analysts surveyed by Reuters expect the central bank to hold its main interest rate at 3 percent while one analyst expects a 25 basis point cut after weaker-than-expected growth in the third quarter. (Compiled by Astha Rawat in Bengaluru; Editing by Savio D'Souza)