There’s no top tier economic release in the European session today, so the action will likely be mostly in the US session as we get the Canadian labour market report and the US University of Michigan consumer sentiment survey.The Canadian labour market report is expected to show 18K jobs added in April vs. -2.2K in March with the unemployment rate ticking higher to 6.2% vs. 6.1% prior. The last report missed expectations across the board with job losses and a big jump in the unemployment rate. There was also an increase in wage growth, which is what the BoC is more concerned about, although a looser labour market should depress wage gains going forward. The market expects the central bank to
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