Last nonfarm before Fed rate lift off?

4 September, 2015

The FOMC rate decision nears, now under two weeks away and it is still the view of many that today will be the last nonfarm payroll figure before the Federal Reserve commences its rate tightening cycle. In order to see the first hike in over nine years this month we will have to see a spectacular headline nonfarm payroll, which is expected to come in at 220k, at the same time it will help to see average earnings beat forecasts too with the Y on Y figure expected at 2.1%. The unemployment figure is expected to decline from 5.3% to 5.2% but these standalone figures are unlikely to settle the financial markets that have been severely rattled by the Chinese stock market bubble bursting.

Calls are coming far and wide from the IMF to emerging economies for the Fed to keep rates on hold and yesterday’s dovish ECB meeting will have been noted by Janet Yellen. US Treasuries are softer this morning as we head towards the release of the US employment data which has the potential to cause some volatility today and as we near September 17th more and more signs point to the Fed remaining on hold.


Source link  
CB meetings dominate the week

With no impactful economic data releases on the calendar today, the markets are focusing on a plethora of Central Bank meetings scheduled...

No Surprises from BoC & ADP

In an unsurprising move, the Bank of Canada decided to hold its benchmark lending rate at 1%, after two small hikes earlier in 2017. The BoC stated...

Moderate Gains for USD

On Monday, the US Commerce Department released Factory Orders data for October, indicating that the continued strength in the Manufacturing...


OPEC Extends Output Cuts

On Thursday, OPEC (Organization of Petroleum Exporters) and non-OPEC producers led by Russia agreed to keep output cuts until the end of 2018...

US Economy Expands Faster Than Predicted

Data released on Wednesday showed that the US economy expanded at its quickest pace since 2014 in Q3. The US Commerce Department said that...

Political Turmoil in Germany Hurts EUR

The EUR lost ground against many of its peers on Monday on news that Chancellor Angel Merkel’s efforts to form a coalition government had collapsed...


USD Suffers on Subpoena News

The Trump Administration is back in the spotlight with news of a report that Special counsel Robert Mueller’s investigators have issued a subpoena...

Positive data negated by tax plan opposition

The US Labor Department released data on Wednesday showing the consumer price index edged up by 0.1% in October after climbing by 0.5%...

Data Boosts EUR Can CPI Boost USD?

EUR received a boost on Tuesday, as data from Destatis showed German Preliminary GDP climbed to 0.8% in Q3, beating forecasts of 0.6%. In addition...

  


Share: