11 Jan 2016
No rush to hike in Nonfarm Payrolls - Westpac
FXStreet (Guatemala) - Analysts at Westpac noted the recent key data events that markets are trading upon.
Key Quotes:
"US non-farm payrolls rose by 292k in Dec, well above the 200k consensus estimate, and Nov numbers were revised higher from 211k to 252k. The unemployment rate remained at 5.0%, thanks to an increase in the participation rate from 62.5% to 62.6%. The only disappointing component of the report was the unchanged average hourly earnings, while economists were expecting a 0.2% increase. The data keeps a March Fed hike alive, though soft wage growth means there's no rush."
"Chinese CPI rose 1.6% y/y in Dec, and PPI fell 5.9%y/y, broadly matching expectations. Policy however remains focused on growth."
Key Quotes:
"US non-farm payrolls rose by 292k in Dec, well above the 200k consensus estimate, and Nov numbers were revised higher from 211k to 252k. The unemployment rate remained at 5.0%, thanks to an increase in the participation rate from 62.5% to 62.6%. The only disappointing component of the report was the unchanged average hourly earnings, while economists were expecting a 0.2% increase. The data keeps a March Fed hike alive, though soft wage growth means there's no rush."
"Chinese CPI rose 1.6% y/y in Dec, and PPI fell 5.9%y/y, broadly matching expectations. Policy however remains focused on growth."