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According to analysts at National Bank Financial, in the US, the most important piece of news will be December’s non-farm payrolls.

Key Quotes

“Jobless claims increased from a historically low level in the month, hinting at a slight uptick in the rate of layoffs. Hiring in the private sector, meanwhile, may have remained relatively subdued judging from Markit’s flash composite PMI report which showed employment advancing at just a marginal pace.”

“We’re accordingly calling for a deceleration in employment creation to 150K, a level still comfortably above what the Atlanta Fed considers sufficient to absorb new entrants to the labour market and keep the unemployment rate steady over the long term (+110K/month).”