IronFX Daily Commentary by Charalambos Pissouros | 08/07/2016
July 8, 2016 8:56 am
US June employment report: A rebound on the cards? • NFP is exp. 175k vs 38k prev. ADP and initial jobless claims support a solid number. • Avg. hourly earnings are exp. to rise at same pace as prev. Unemployment rate is exp. to tick up to 4.8% from 4.7% prev. • A rise in the unempl. rate may be due to a rise in the labor force participation rate, which would be positive news for the labor market. • Overall, these point to a solid report that could support USD on the news.
Kiwi higher on expectations of RBNZ staying sidelined • An RBNZ official said yesterday that further rate cuts may lead to financial instability. • This makes it unlikely that the Bank will ease again in the near-term. • We exp. the RBNZ to remain on hold for some time, perhaps until year-end.
Today: • Germany & UK: Trade balance data for May from both countries. • Canada: Unemployment rate for Jun. is exp. to rise, net change in employment is forecast to remain positive. The rise in the unempl. rate may also be due to a rebound in the labor force participation rate, which could be CAD-positive.
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US June employment report: A rebound on the cards?
• NFP is exp. 175k vs 38k prev. ADP and initial jobless claims support a solid number.
• Avg. hourly earnings are exp. to rise at same pace as prev. Unemployment rate is exp. to tick up to 4.8% from 4.7% prev.
• A rise in the unempl. rate may be due to a rise in the labor force participation rate, which would be positive news for the labor market.
• Overall, these point to a solid report that could support USD on the news.
Kiwi higher on expectations of RBNZ staying sidelined
• An RBNZ official said yesterday that further rate cuts may lead to financial instability.
• This makes it unlikely that the Bank will ease again in the near-term.
• We exp. the RBNZ to remain on hold for some time, perhaps until year-end.
Today:
• Germany & UK: Trade balance data for May from both countries.
• Canada: Unemployment rate for Jun. is exp. to rise, net change in employment is forecast to remain positive. The rise in the unempl. rate may also be due to a rebound in the labor force participation rate, which could be CAD-positive.
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
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