Interest rate focus turns to US on nonfarm payroll day

7 August, 2015

After the excitement of the Bank of England’s Super Thursday where sterling lost over 100 pips against the dollar and nearly the same against the euro, the attention moves to the US where we see the penultimate nonfarm payroll ahead of September’s FOMC meeting. This figure is important following comments from FOMC voting member Lockhart earlier in the week where he strongly suggested September should be the month the Fed moves to increase interest rates for the first time in over nine years. The market expects a figure of 222k with the unemployment rate remaining at 5.3% and once again the average earnings figure will be closely watched as well, expected at 0.2% month on month. All eyes will be on how the dollar and Treasury yields react to today’s figure which have pulled back a little following Wednesday’s poor ADP figure. With both the Federal Reserve and Bank of England emphasising that their decision to raise interest rates remains data dependent, figures like today’s nonfarm payroll have the potential to produce some fireworks.

At the same time there’s unemployment data from Canada so the most action could potentially be in the USDCAD rate which recently hit a 10 year high. Trading at 1.3110 this morning bulls will be watching for a break above the 1.3200/15 level for further gains.


Source link  
Fed Speakers Take Centre Stage

Fed Member Mester is due to speak at the Central Banking Series hosted jointly by the Global Interdependence Center and Bank of France, in Paris...

Markets Steady Ahead of Euro Open

After further increases in stock markets yesterday, the market is pausing and consolidating ahead of European trading. Asian equity markets are in the green...

Oil Inventories to Show a Draw

Expectations (Apr) are expected to be released with a prior reading of 16.7. This data has been weakening since a reading of 52.0 was recorded in...


Chances of RBA Rate Hike

NZDUSD bucked the trend overnight, as most other currencies managed to retrace some of their declines against the USD. The pair hit fresh...

Consumer Sentiment Index Close to Higher

US Fed Boston President Rosengren is due to deliver the keynote speech on the economic outlook, at the Greater Boston Chamber’s Economic Outlook Breakfast...

Chinese president soothes worries

With US Producer Prices data on the way this afternoon, and predicted to be largely as expected, the morning session will be dominated by central bankers...


Markets fall after more tariffs proposal

Friday's session is expected to be volatile, with Non-Farm Payrolls (13:30 UK Time) ahead and President Trump’s proposal for an additional $100B...

Korea gets exemption on steel tariffs

The US and South Korea have reached agreement on a Trade deal that comes with the added bonus for South Korea of a permanent exemption from...

EU Publishes List of Tariffs on US Goods

Over the weekend, the EU published a list of tariffs on US products in response to the US tariffs on Steel and Aluminium. The total value of EU tariffs...


In the past 24 hours Bitcoin has gained 3.4% and reached $8561.15. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.1691% and is now at $1.1809. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -1.46% and is now at $721.505. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets89%
2FXTMFXTM88%
3HYCMHYCM86%
4FxProFxPro82%
5FIBO GroupFIBO Group81%
6FXCMFXCM71%
7HotForexHotForex70%
8XMXM69%
9Alfa-ForexAlfa-Forex68%
10Grand CapitalGrand Capital65%
  


Share: