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Friday March 8, 2013 - 09:47:33 GMT
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Focus Friday on U.S. Jobs data for February. Markets hoping for a gain of 200K in the month
|Focus Friday on U.S. Jobs data for February. Markets hoping for a gain of 200K in the month|
8 March 2013 11:00 gmt
CALENDAR- North America: CA- Employment. US- Employment, Wholesale Inventories, COT Report
- HIGH IMPACT ITEMS: JA- GDP, CN- Trade, CH- CPI, CA/US- Employment
- The primary focus today is the release of February U.S. jobs data. Street estimates are for jobs to increase by 167K, vs..157K in January. The ADP private employment report Wednesday saw jobs rise by just shy of 200K in February, plus there has been a consistent improvement seen in the weekly jobless figures.
- It is possible that street estimates could be on the low side. The so-callled "whisper number" of traders is for a gain of around +200K. A weaker than expected nuber would be a disappointment.
- Revised Japanese 4Q12 GDP was revised up slightly to a flat reading. The next Governor (Kuroda) is expected to be approved by the Diet in the week ahead.
- Swiss CPI fell -0.3% y/y, the same as in January. Switzerland remains mired in deflation.
- The next key U.S. budget date is March 27 when the government's current funding authority runs out.
USDJPY 20-day average is 93.26. EURJPY 20-day average is 123.24. 10-yr JGB: 0.65%, -3bp. Key Far East bourses: MIXED.
EURUSD 20-day average:1.3214.10-yr bund is 1.49%, 0bp. European bourses: HIGHER.
U.S. 10-yr 1.99%, 0bp. U.S. shares: HIGHER.
FX Trade Talk: What's moving markets-- Commentary, data. and data charts posted continuously on FOREX FORUM
John M. Bland, an author and a founding partner of Global-View.com, has been a corporate FX consultant for a major N.Y. bank, a forex trader for a major N.Y. institution, and an FX analyst for a blue chip Fed watching service.. John has an MBA in International Finance and an A.B. in Economics from the University of California at Berkeley.
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John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias
- POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic
- POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy
- POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
- POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
- POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
- POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release
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