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wombat53

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03/06/16

23:14

Post #: 17949497
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Originally posted by UnclePanda ↑

volatile month due to Verizon. Although, still too early with the gold bear call. Wage growth came in decent at 0.2%. Jobs still below expectations. probably not good enough for a june hike.

With respect to the NFPs this is likely to be 100th consecutive month of positive job growth in US although the data could be volatile due to the Verizon strike this month. The key focus of the market however, will on wages rather than jobs. The consensus view is that average weekly earnings will grow at 0.2% which will be in line with recent trend growth and will continue to show a positive 2.5% yeary path in wages. However, if the number beats the consensus view it should help boost the buck which has been under heavy selling pressure all week. Markets remain skeptical of any possible Fed hike but a jump in wage growth would be just the data point that Fed needs to move ahead with its normalization process and odds of June or July hike should rise markedly if this was to occur with USD/JPY likely popping back towards the 110.00 level while EUR/USD could drift all the way to 1.1000.

Read more: http://www.nasdaq.com/article/nonfa...-matter-but-wages-will-cm629951#ixzz4AWOcdegN

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Verizon was 35K jobs...even if added, still a huge miss.
2 Upvote

0 Great analysis

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