9 Jan 2015
BNPP: December nonfarm payroll might register a gain of 275k – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes BNPP economist anticipate today’s December nonfarm payrolls to register a gain of 275k, further expecting the USD rally to continue in 2015.
Key Quotes
“Our economists are more optimistic than the market, expecting a 275k gain in December nonfarm payrolls, just below the impressive three-month trend of 278k. The unemployment rate should fall to 5.7% and as labour market slack is eroded we suspect the Fed and market participants will increasingly focus on measures of wage growth.”
“The bar for the employment data to alter the Fed’s plans to hike in mid-year appears quite high – a stronger reading is unlikely to rush the Fed into move in Q1 given the low CPI profile, while one weak report would do little to alter the picture of what has been a very robust trend.”
“The USD rally appears set to continue in 2015, but with markets already positioned for the move, tactical flexibility if warranted in our view.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Our economists are more optimistic than the market, expecting a 275k gain in December nonfarm payrolls, just below the impressive three-month trend of 278k. The unemployment rate should fall to 5.7% and as labour market slack is eroded we suspect the Fed and market participants will increasingly focus on measures of wage growth.”
“The bar for the employment data to alter the Fed’s plans to hike in mid-year appears quite high – a stronger reading is unlikely to rush the Fed into move in Q1 given the low CPI profile, while one weak report would do little to alter the picture of what has been a very robust trend.”
“The USD rally appears set to continue in 2015, but with markets already positioned for the move, tactical flexibility if warranted in our view.”
This content has been provided under specific arrangement with eFXnews.