Soft US NFPs not a major surprise - RBS

FXStreet (Bali) - According to RBS FX Desk Strategy Team notes that soft US NFPs were not a major surprise as it simply shows Payrolls eventually caught up to weak US data releases over Q1.

Key Quotes

"Soft NFPs were not a major surprise. Payrolls eventually caught up to weak US data releases over Q1, which was mostly due to poor weather and West Coast port shutdowns. These soft prints are transitory, in our view, and reminiscent of Q1’14."

"Overall, we expect data to rebound into H2’15 and believe that a Q4’15 FOMC lift-off remains on the cards. That should keep the USD well-supported."