5 Jun 2015
US non-farm payrolls in focus - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, breaks down the key events for Friday, with virtually all the attention shifted now towards the US Non-Farm Payrolls report.
Key Quotes
"The market median forecast for US May nonfarm payrolls is another robust 225k gain and the unemployment rate is expected to remain at 5.4%. Around the NFP 225k median, the +/- 1 standard deviation range is 202k to 250k. Average earnings will be watched too; consensus is 0.2% m/m, 2.2% y/y."
"We hear from New York Fed president Dudley on the economy and monetary policy after the NFP release, audience and media Q&A to follow. Dudley’s views tend to be very much in line with the Board of Governors and this looks to be the last update from the Fed ahead of next FOMC meeting. It will be very useful to hear his take on the jobs data and his view on Q2 GDP after the dismal Q1. Canada May unemployment is expected to remain at 6.8%, with jobs +10k."
Key Quotes
"The market median forecast for US May nonfarm payrolls is another robust 225k gain and the unemployment rate is expected to remain at 5.4%. Around the NFP 225k median, the +/- 1 standard deviation range is 202k to 250k. Average earnings will be watched too; consensus is 0.2% m/m, 2.2% y/y."
"We hear from New York Fed president Dudley on the economy and monetary policy after the NFP release, audience and media Q&A to follow. Dudley’s views tend to be very much in line with the Board of Governors and this looks to be the last update from the Fed ahead of next FOMC meeting. It will be very useful to hear his take on the jobs data and his view on Q2 GDP after the dismal Q1. Canada May unemployment is expected to remain at 6.8%, with jobs +10k."