IronFX Daily Commentary by Charalambos Pissouros | 02/09/2016
September 2, 2016 8:44 am
US payrolls: Will they pave the way for a September hike? • NFP for Aug. is exp. 180k vs 255k prev. Unempl. rate to tick down to 4.8% from 4.9%. Avg. hourly earnings are exp. to slow. • Overall, these point to a solid report that may raise the odds for a Sep. hike and support USD. • However, NFP has a history of missing forecasts in Aug. and the ISM manuf. PMI showed a contraction in manuf. employment. • A big miss on expectations may push USD off the cliff as bets for Sep. are pared back.
Today: • UK: Construction PMI for Aug. is exp. to rise. The manuf. PMI was very strong, so construction could follow suit. This could prove GBP-positive. • Eurozone: PPI for Jul. but usually not a major market mover. • US: Factory orders for Jul., but following the NFP, this may pass unnoticed. • Speakers: Richmond Fed President Jeffrey Lacker.
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
US payrolls: Will they pave the way for a September hike?
• NFP for Aug. is exp. 180k vs 255k prev. Unempl. rate to tick down to 4.8% from 4.9%. Avg. hourly earnings are exp. to slow.
• Overall, these point to a solid report that may raise the odds for a Sep. hike and support USD.
• However, NFP has a history of missing forecasts in Aug. and the ISM manuf. PMI showed a contraction in manuf. employment.
• A big miss on expectations may push USD off the cliff as bets for Sep. are pared back.
Today:
• UK: Construction PMI for Aug. is exp. to rise. The manuf. PMI was very strong, so construction could follow suit. This could prove GBP-positive.
• Eurozone: PPI for Jul. but usually not a major market mover.
• US: Factory orders for Jul., but following the NFP, this may pass unnoticed.
• Speakers: Richmond Fed President Jeffrey Lacker.
Join us for more technical and fundamental analysis: http://www.ironfx.com
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
Related Posts: