Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
U.S. macro data in focus
Investors are expected to carefully parse ADP nonfarm employment data due Wednesday, which often serves as a precursor to monthly nonfarm payrolls data slated for later this week.
Economist forecasts the private sector created 185,000 jobs in November, slightly below the 235,000 jobs created in the previous month.
Ahead of the report the dollar, rose 0.24% against its rivals to 0.23.
U.S. crude oil stockpiles to show second-straight weekly decline?
A fresh batch of inventory data from the Energy Information Administration (EIA) on Wednesday is expected to show that U.S. crude stockpiles dropped for a second-straight week.
Analysts forecast crude inventories fell by about 3.2m barrels in the week ended Dec. 2.
Crude oil prices have made mixed start to the week as investors weighed the impact of rising US production on global supply against ongoing expectations for strong OPEC compliance with the deal to curb output.
Crude oil futures settled at $57.48, up 15 cents, on Tuesday.
It’s interest rate decision day in Canada
Following two-rate hikes this year, the Bank of Canada (BoC) is in the spotlight again as it releases its decision on interest rates on Wednesday, widely expected to remain unchanged at 1%.
Investors will parse the accompanying statement from the BoC for clues into the central banks thinking on the economy and monetary policy outlook.
USD/CAD traded at C$1.2697, up 0.17%.