9 Jan 2015
An above 200k NFP print might still support USD – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, believes that as long as the US NFP print comes out above 200k, current path of interest rates and USD will remain supported.
Key Quotes
“Non farm payrolls - consensus is calling for a gain of 240k jobs, slightly below the 6-month moving average of 258k and the November print of 321k. The forecasts range from a low of 160k to a high of 305k, with Scotiabank Economics expecting 275k. As long as the print is above 200k we see it supporting the current path of interest rates and USD; however should it surprise materially higher it will add to USD strength, likely accelerating EUR’s fall.”
Key Quotes
“Non farm payrolls - consensus is calling for a gain of 240k jobs, slightly below the 6-month moving average of 258k and the November print of 321k. The forecasts range from a low of 160k to a high of 305k, with Scotiabank Economics expecting 275k. As long as the print is above 200k we see it supporting the current path of interest rates and USD; however should it surprise materially higher it will add to USD strength, likely accelerating EUR’s fall.”