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  Canadian employment details overview Statistics Canada is scheduled to publish the monthly employment details for July later this Friday at 12:30 GMT. The Canadian economy is anticipated to have added 20K jobs during the reported month, up sharply from the 43.2K decline reported in June. Meanwhile, the unemployment rate is expected to edge higher to 5.0% in July from the 4.9% previous. Analysts at TD Securities (TDS) are more optimistic about the report and explain: “We look for job growth of 38k in July, driven by a partial rebound for trade services and natural resources after their sharp decline in June. Full-time hiring should lead the increase, while stronger labour force participation should keep unemployment stable at 4.9%. We also expect to see wage growth firm to 6.0% y/y in July, although AHE (Average Hourly Earnings) should slow on a m/m basis.”

  Bank of England (BoE) Governor Andrew Bailey is delivering his remarks on the policy  outlook  and responding to questions from the press following the bank's decision to hike the policy rate by 50 basis points to 1.75%. Key takeaways "BOE will not comment on Conservative leadership candidates' plans." "BOE has a very clear mandate of price stability." "Consequences of Russia's actions in Ukraine have a serious economic impact." "Political pressures have been very well managed since BOE independence." "I have not abandoned the narrow path analogy for UK policy outlook." "A number of central banks have a similar narrow path to tread." About Andrew Bailey (via bankofengland.co.uk) "Andrew Bailey previously held the role of Deputy Governor, Prudential Regulation and CEO of the PRA from 1 April 2013. While retaining his role as Executive Director of the Bank, Andrew joined the Financial Services Authority in Apr...

  DXY reverses the earlier bull run to the 106.50/55 band. The resumption of the selling bias could extend to 105.00. DXY  leaves behind Tuesday’s strong advance and sparked a corrective downside soon after hitting new 3-day peaks in the mid-106.00s on Tuesday. Tuesday’s bounce did not clear any up barrier of note and thus leaves the index vulnerable to further weakness in the very near term at least. On this, the dollar faces the tangible chance to slip back to the multi-week lows in the 105.00 region (August 2) in the short term. This initial area of contention remains propped up by the proximity of the 55-day SMA, today at 104.84. Furthermore, the broader bullish view in the dollar remains in place while above the 200-day SMA at 99.62.

   Enrico Tanuwidjaja, Economist at UOB Group, comments on the latest inflation figures in Indonesia. Key Takeaways “July’s headline  inflation  jumped to 4.9% y/y, breaching Bank Indonesia (BI)’s 4% target upper bound for the second month in a row and currently at 7-year high, while core inflation rose to 2.9% y/y, a 28-month high, from June’s 2.6%.” “Inflation in July continued to be driven by upward pressures from food services and restaurants and transport, in addition to housing, water, electricity and household fuel.” “We revised our 2022 inflation forecast now to average 4% viz. 3.3% previously and for BI to hike rates now in Sep instead of in Jul.”

  DXY accelerates the corrective decline to the 105.30 zone. Immediate to the downside appears the 55-day SMA at 104.75. DXY  navigates the fourth consecutive session with losses and revisits the 105.30 region at the beginning of the week. The index broke below the multi-session pre-FOMC consolidative theme and in doing so it has paved the way for extra decline in the short-term horizon. That said, the immediate support now turns up at the interim 55-day SMA at 104.75 ahead of the 5-month support line around 103.85. The near-term outlook for DXY remains constructive while above this 5-month support line near 104.00. In addition, the broader bullish view remains in place while above the 200-day SMA at 99.49.