The U.S. October jobs report is due Nov. 6, after a federal election and Bank of England rate decision that put labor data alongside political and monetary policy events.
The Bureau of Labor Statistics (BLS) will publish its Employment Situation report at 8:30 a.m. ET Friday, Nov. 6. September payrolls rose by 29,000, while the unemployment rate was 4.2%; the BLS said both measures showed little movement during the month. The agency also scheduled its September Job Openings and Labor Turnover Survey (JOLTS) for Tuesday, Nov. 3, at 10 a.m. ET.
The Federal Election Commission (FEC) lists Nov. 3 as the next regularly scheduled federal general election date. The Institute for Supply Management (ISM) has scheduled its Manufacturing PMI for Monday, Nov. 2, and Services PMI for Wednesday, Nov. 4, both at 10 a.m. ET.
At its Oct. 28 meeting, the Federal Reserve’s Federal Open Market Committee (FOMC) kept the federal funds target range at 3.75% to 4%. The vote was 10-2; Lisa D. Cook and Beth M. Hammack preferred a 0.25 percentage-point increase. The committee said, “Inflation remains elevated,” and referred to its 2% inflation goal.
FXStreet’s Oct. 30 preview linked recent dollar strength partly to rising crude prices amid the unresolved Middle East crisis. The U.S. Energy Information Administration (EIA)’s latest displayed snapshot, for the Oct. 29 close, listed Brent at $115.28 a barrel and West Texas Intermediate at $105.51, down 3.3% and 0.7%, respectively, from the previous business day. Those daily changes do not establish the broader oil-price trend described by FXStreet.
The Bank of England (BoE) is scheduled to announce its next decision at 7 a.m. ET Thursday, Nov. 5 (noon U.K. time). It last held Bank Rate at 3.75% in September. Six Monetary Policy Committee members supported holding the rate, while three favored a 0.25 percentage-point increase. The meeting minutes identified the Middle East conflict and its effects on energy prices as central uncertainties for inflation. FXStreet forecast a quarter-point increase in November; the BoE’s calendar gives the announcement date but does not state the outcome.
