1 May 2015
US ISM and consumer confidence to improve – ING
FXStreet (Barcelona) - According to ING Bank, both the ISM series and consumer confidence might show improvement at high levels, and payrolls might rebound to just under 200k, but whether Fed will act on this data remains doubtful.
Key Quotes
“After the Federal Reserve’s relatively non-descript message following the April FOMC meeting decision we will be focusing on the US data to determine whether there is a chance of a rate hike in June. Given the very soft Q1 GDP number we will need to see almost universal strength in the numbers for this to happen.”
“We do expect improvements in both the ISM series and look for consumer confidence to hold at high levels, but the key release will be the labour report.”
“We expect payrolls to rise by just under 200,000 after a disappointing 126,000 print last month, which is based on the weaker growth backdrop in recent months. However, we will be looking for a further modest uptick in pay rates based on the shrinking pool of available workers.”
“We have our doubts that the combination of these releases this will lead to interest rate expectations creeping forward in any meaningful way.”
Key Quotes
“After the Federal Reserve’s relatively non-descript message following the April FOMC meeting decision we will be focusing on the US data to determine whether there is a chance of a rate hike in June. Given the very soft Q1 GDP number we will need to see almost universal strength in the numbers for this to happen.”
“We do expect improvements in both the ISM series and look for consumer confidence to hold at high levels, but the key release will be the labour report.”
“We expect payrolls to rise by just under 200,000 after a disappointing 126,000 print last month, which is based on the weaker growth backdrop in recent months. However, we will be looking for a further modest uptick in pay rates based on the shrinking pool of available workers.”
“We have our doubts that the combination of these releases this will lead to interest rate expectations creeping forward in any meaningful way.”