Today's economic calendar is relatively light, with the European and American sessions offering a mix of low-tier releases and central bank speakers. However, the focus is on the US-Iran war and its potential impact on the global economy, particularly the US labor market and inflation. The Canadian jobs data and the US NFP report are expected to show a decline in job growth, which could have significant implications for the Federal Reserve's monetary policy. The BoC's recent statement on the soft labor market and the Fed's concerns about an inflationary mindset suggest that the central banks are closely monitoring the situation. The ECB's speakers, including de Guindos and Schnabel, are also expected to provide insights into the bank's monetary policy stance. The market's reaction to these events will be crucial in shaping the future of global economic policy.
