Results for 'NFP'
27 articles with this tag name
Updated May 21, 2013 3:55:00 PM
Late last week the US 10-year yield found support into the 200-day sma around 1.86%, leading us to believe another push higher could be underway. Once more, it appeared the 1.97-99% level could come into play as this saw the previous high, 78.6% retracement (of the March-May decline) and the March gap lower. Interestingly enough today’s price action saw the 10-year yield trade up to 1.996% – Thus closing the March gap lower, but it
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Updated May 3, 2013 1:23:05 AM
The Aussie and Kiwi retraced some of Wednesday’s losses against the dollar, while EURUSD and USDJPY remained flat throughout the session. USDJPY rocketed higher overnight on the back of better than expected data out of the US and an attempt from the ECB to stimulate growth in Europe. The ECB elected to cut its main interest rate and indicated it’s keeping an open mind about imposing negative deposit rates. The former was largely expected, but
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Updated May 2, 2013 3:20:00 PM
With central bank meetings out of the way for now, markets will turn their attention to tomorrow’s BLS employment report and though expectations are for an improvement from March’s anemic job growth, a lack of significant progress is likely to mean that the Fed will keep asset purchases steady. The “increase or reduce” language in yesterday’s statement implies that markets are likely to be more sensitive to economic data surprises. As such, markets will be
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Updated May 2, 2013 12:00:00 PM
It’s not often that the Pope gets mentioned in an ECB press conference, but that is what happened today. At his press conference Draghi was asked to comment on a tweet from Pope Francis about the tragedy of rising unemployment in the Eurozone. After a brief pause, Draghi said that the situation is frustrating for the ECB as well as the Vatican as its efforts fail to generate enough growth to get businesses hiring once
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Updated Apr 5, 2013 7:00:00 AM
In the last 24 hours there hasn’t been a unifying theme in the FX or equity market. For example, the dollar has strengthened against the yen, but weakened versus the pound and the euro. Likewise in equities, the Nikkei rose 1.5% in Friday’s trading, while the Hang Seng was down nearly 3%. This is a reflection of contrasting economic fortunes in the developed world and also differing monetary stances. Likewise, some different factors are impacting
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Updated Apr 4, 2013 7:00:00 PM
“It’s like deja vu all over again” – Yogi Berra It was approximately a month ago, March 7th, when the Bank of Japan & European Central Bank held their meetings within 12-hours of one another. Sure enough, the combination of these two saw EURJPY take flight, which prompted us to update our technical outlook (see update II below). Interestingly, the past 24-hours saw both of these central bank announcements converge again, but this time the
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Updated Apr 4, 2013 1:30:00 PM
On Friday, April 5, at 0830ET/1330GMT the US is forecasted to report a change in non-farm payrolls (NFP) of +195K (prior +236K; range +366/100K), a change in private payrolls of +200K (prior +246K; range +115K/+260K), and a steady unemployment rate of 7.7% (prior 7.7%; range 7.6/7.8%), according to Bloomberg market surveys. Our forecast model indicates a March headline NFP number of +194K jobs, which is in line with consensus forecasts. We expect most of the
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Updated Apr 3, 2013 7:30:00 PM
With several key events happening over the next 48-hours: Interest rate announcements out of the BOJ, BOE & ECB as well as the U.S. employment report, we felt it was pertinent to highlight some of the technical levels in many of the FX majors and other asset classes as these events could create an extreme amount of volatility depending upon their outcomes. FX MAJORS: COMMODITIES, EQUITIES & TREASURIES: 1 Reference is for informational purposes only
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Updated Apr 3, 2013 10:00:00 AM
The problem with this US recovery and stock market rally is that no sooner are you lulled into a false sense of security that the economic recovery will continue then a data point reminds you that the US recovery is still fragile. Take today’s ADP report, it missed expectations of a healthy 200k and came in at 158k for March. This is still a good run-of-the-mill number, but it’s not the magic 200k that everyone
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Updated Mar 10, 2013 11:59:56 PM
Policy makers in Beijing face a dilemma as inflation and growth concerns move onto their radar at the same time. Inflation is increasing (CPI +3.2% in February, expected +3.0% and prior +2.0%), limiting Beijing’s ability to respond to potential weakness in the economy. Recent soft economic data is compounding the problem. China’s imports fell 15.2% y/y in February, both unofficial and official manufacturing PMI’s disappointed last month, as did retail sales and industrial production. In
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