Analysts now are expecting a solid rise in U.S. employment Friday of 195K. Another solid report would call into question the weak May data, but keep in mind the Fed focus is also on inflation. The core PCE deflator Tuesday was flat again at 1.60% yr/yr.
A strong jobs report will have markets looking for a September or December rate hike. After a number of missteps, expect this Fed to be very cautious. Current street odds on a Fed funds rate hike by year-end are about 45%.
The ADP Jobs data have been about unchanged over the past three months even though the associated NFP data have seen wide swings up and down. The closely watched employment sub-component of the ISM Service PMI weakened modestly.
The Bank of England announced a 25bp reduction in its repo rate target to 0.25% Thursday, as expected, and also added a number of items to further stimulate bank lending. The markets took this as a signal that the GBP should weaken on the news, and sold the unit off against the USD and on its crosses.
Analysts are expecting a solid rise in U.S. employment of 195K. Another decent report would further nullify the weak May data, but keep in mind the Fed focus is also on inflation. The core PCE deflator Tuesday was flat again at 1.60% yr/yr.
A strong jobs report would have markets looking for a September or December rate hike. After a number of missteps, expect this Fed to remain timid. Current street odds on a Fed funds rate hike by year-end are about 40%.
The ADP Jobs data sugeest a near consensus reading, but they have been about unchanged over the past three months even though the associated NFP data have seen wide swings up and down. The closely watched employment sub-component of the ISM Service PMI weakened modestly.
John M. Bland, MBA co-founder Global-View.com
GVI Trading Room john 11:30:37 GMT - 08/05/2016
equities cautious into data
10-yr 1.496% +0.6bp
EUR crosses are mixed
tokyo joyya 11:36:10 GMT - 08/05/2016
BuyGBPUSD Entry: 1.31 Target: Stop:
still 1.31 good area for long cable......
Mtl JP 13:31:34 GMT - 08/05/2016
as a technical drawing of a building, this euro chart should complete the r-hand side leg at some point
Vancouver G.A. 13:39:49 GMT - 08/05/2016
Thank you Red, thank you JP.
Mtl JP 13:42:14 GMT - 08/05/2016
G.A. 13:39 your only guarantee is your prudent management of your risk in this money whores' business
Vancouver G.A. 13:49:22 GMT - 08/05/2016
Absolutely. Any professional trader knows that.
Mtl JP 15:11:57 GMT - 08/05/2016
looks like some stop eating under way in eurdlr
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Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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