IronFX Daily Commentary by Charalambos Pissouros | 01/09/2016
September 1, 2016 8:56 am
ADP report signals a healthy pace of jobs growth in August • US ADP employment change came 177k in Aug. from 194k prev., slightly above the forecast of 175k. • This raises speculation that the NFP print may also meet its forecast of 180k. • Something like that could increase bets that the Fed is likely to hike in Sept. and thereby add fuel to the recent dollar rally.
Today we get lots of PMIs: • France, Germany & Eurozone: Final manufacturing PMIs for Aug. • UK: Manufacturing PMI for Aug. The forecast is for a rise in the index, which could prove GBP-positive. • US: ISM manufacturing PMI for Aug. is exp. to decline, which may curb some of the dollar’s recent gains, at least temporarily. Also, Markit manufacturing PMI for Aug. and initial jobless claims for week ended Aug. 26th. • Canada: RBC manufacturing PMI for Aug. Usually not a major market mover. • Speakers: Cleveland Fed President Loretta Mester.
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ADP report signals a healthy pace of jobs growth in August
• US ADP employment change came 177k in Aug. from 194k prev., slightly above the forecast of 175k.
• This raises speculation that the NFP print may also meet its forecast of 180k.
• Something like that could increase bets that the Fed is likely to hike in Sept. and thereby add fuel to the recent dollar rally.
Today we get lots of PMIs:
• France, Germany & Eurozone: Final manufacturing PMIs for Aug.
• UK: Manufacturing PMI for Aug. The forecast is for a rise in the index, which could prove GBP-positive.
• US: ISM manufacturing PMI for Aug. is exp. to decline, which may curb some of the dollar’s recent gains, at least temporarily. Also, Markit manufacturing PMI for Aug. and initial jobless claims for week ended Aug. 26th.
• Canada: RBC manufacturing PMI for Aug. Usually not a major market mover.
• Speakers: Cleveland Fed President Loretta Mester.
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To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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