5 Mar 2015
US NFP expected to rise by 260K - RBS
FXStreet (Bali) - RBS economists forecast a 260K advance in Friday's headline non-farm payrolls for the month of February.
Key Quotes
"RBS economists forecast a 260K advance in headline non-farm payrolls in February, largely in line with the prevailing trend. Job gains seen over the past several months may be enough to nudge the unemployment rate back down to 5.6% in February."
"Our aboveconsensus forecast would be another strong employment gain and likely keep the FOMC as among the (relatively) most hawkish central banks in the G10. With EUR/USD testing new decade-lows, a very strong payroll gain could push the pair definitively below 1.10."
"March is the final month of the Japanese fiscal year and USD/JPY has rallied over 1% in March in each of the past 6 years – that seasonal trend may lift USD/JPY on a big number and perhaps support the pair should the US figures disappoint (though after a likely initial move lower.)"
"Poor February payrolls could lead to clearing of USD-longs in anticipation of weather-induced weakness in other US indicators, though weatherinduced weakness today would likely be "made-up" later."
Key Quotes
"RBS economists forecast a 260K advance in headline non-farm payrolls in February, largely in line with the prevailing trend. Job gains seen over the past several months may be enough to nudge the unemployment rate back down to 5.6% in February."
"Our aboveconsensus forecast would be another strong employment gain and likely keep the FOMC as among the (relatively) most hawkish central banks in the G10. With EUR/USD testing new decade-lows, a very strong payroll gain could push the pair definitively below 1.10."
"March is the final month of the Japanese fiscal year and USD/JPY has rallied over 1% in March in each of the past 6 years – that seasonal trend may lift USD/JPY on a big number and perhaps support the pair should the US figures disappoint (though after a likely initial move lower.)"
"Poor February payrolls could lead to clearing of USD-longs in anticipation of weather-induced weakness in other US indicators, though weatherinduced weakness today would likely be "made-up" later."