IronFX Daily Commentary by Charalambos Pissouros | 06/01/2017
January 6, 2017 9:11 am
NFP preview: What to watch out for • US NFP is expected 178k in Dec. Unemployment rate is expected to rise, avg. hourly earnings to increase after falling in Nov. • Despite a potential rise in the unemployment . rate, these point to a strong report overall, which may support USD. • Having said that, we view the risks surrounding the dollar’s reaction as asymmetrical. • A solid report would confirm what we already know (strong data, Fed continues hiking) and thus, the upside reaction in USD may be modest. • But a potential disappointment could generate concerns that the pace of rate hikes may be slower, perhaps leading to notable profit-taking in USD. • As for the rest of today’s highlights: • Eurozone: Retail sales for Nov. but usually not a major market mover. • Canada: Jobs report for Dec. as well. Unempl. rate is exp. to rise. CAD-negative. Given that the US jobs data are exp. to be solid and the Canadian data soft, USD/CAD could surge on the news. • Speakers: Chicago Fed President Charles Evans and Dallas Fed President Robert Kaplan.
NFP preview: What to watch out for
• US NFP is expected 178k in Dec. Unemployment rate is expected to rise, avg. hourly earnings to increase after falling in Nov.
• Despite a potential rise in the unemployment . rate, these point to a strong report overall, which may support USD.
• Having said that, we view the risks surrounding the dollar’s reaction as asymmetrical.
• A solid report would confirm what we already know (strong data, Fed continues hiking) and thus, the upside reaction in USD may be modest.
• But a potential disappointment could generate concerns that the pace of rate hikes may be slower, perhaps leading to notable profit-taking in USD.
• As for the rest of today’s highlights:
• Eurozone: Retail sales for Nov. but usually not a major market mover.
• Canada: Jobs report for Dec. as well. Unempl. rate is exp. to rise. CAD-negative. Given that the US jobs data are exp. to be solid and the Canadian data soft, USD/CAD could surge on the news.
• Speakers: Chicago Fed President Charles Evans and Dallas Fed President Robert Kaplan.
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: