Ladies
and Gentlemen,
Today
at 13.30 BST we have a plethora of data from the US, as we are all aware the
Fed is “Data Dependent”.
13.30
Non-Farm Payrolls
Average Hourly earnings
Unemployment Rate
Labor Force participant rate
The
Non-Farm Payroll number will be where we look first. The market consensus is
225k. The barometer appears to be 200k with a weaker number suggesting that a
rate rise in September will be off the table, whilst a strong number will make
the voting members of the Federal Reserve do some soul searching.
Fed
Funds has 19 basis points priced into the September Contract, 32 basis points
priced in December Contract and a year from now it has 70 basis points,will
this change?
The
minutes of the last meeting teased the market with the word ‘some’, stating
that the FED would like to see “some improvements” in data before raising rates
Dennis
Lockhart, the Atlanta Fed President, a dove, said that it would take a
significant deterioration in the data not to move in September.
We
eagerly await the data dependent sequence…
Good
Luck
Anish S. Lal @anish8fx
FX & Precious Metals, Atom8 Financial Services LLP
2nd Floor, Centenary House, Palliser Road, London W14 9EQ, UK
No comments:
Post a Comment