Forex weather for 06/12/2023

For 6 December 2023, the economic calendar features several key publications likely to influence market volatility:

1. Eurozone GDP At 05:00, the figures for Q3 GDP year-on-year (2.7%) and quarter-on-quarter (1.3%) will be announced, potentially impacting the EUR.
2. South Africa's GDP ZAR: At 05:30, Q3 GDP data will be published (1.6% year-on-year and 0.6% quarter-on-quarter), which could affect the ZAR.
3. Eurozone unemployment rate At 06:00, the November unemployment rate (previously at 4.8%) will be reported, influencing the EUR.
4. Change in ADP employment in the United States At 08:15, ADP employment data for November (previously 113K) will be published, affecting the USD.
5. Canadian economic data At 08:30, a number of key indicators will be published, including labour costs, labour productivity and more, influencing the CAD.
6. Productivity and labour costs in the United States At the same time, the United States will publish a number of important indicators for Q3, affecting the USD.
7. Interest rate decision in Canada At 10.00am, the Bank of Canada's interest rate decision (previously 5.00%) will be announced, impacting the CAD.
8. Australian trade balance AUD: At 7.30pm, Australia will report its October trade balance, along with details of exports and imports, influencing the AUD.

Traders should be prepared for potential volatility in the EUR, ZAR, USD, CAD and AUD markets, and follow these releases closely to guide their trading decisions.