- Analytics
- News and Tools
- Market News
- USD upside risks heading into jobs report – MUFG
USD upside risks heading into jobs report – MUFG
FXStreet reports that according to economists at MUFG Bank, given Friday’s NFP report will be the first since the FOMC, we could well see an outsized move.
“The ‘Jobs Plentiful minus Jobs Hard to Get’ index surged in the confidence report yesterday and underlines the fact that if we see some easing of the labour supply problems then we could well see a big jobs gain in the report on Friday. After the 559K gain In May the market consensus on Bloomberg is for a 700K gain – the ‘whisper’ number is at 800k but could well be creeping higher still now.”
“A blowout report would certainly reinforce the building expectations that a September confirmation of tapering starting in Q4 would be delivered. The moves in FX spot certainly point to the continued existence of short USD speculative positions.”
“Expectations of a strong jobs report are rising now which is fuelling further USD strength which could well continue into the employment report and possibly beyond if expectations are confirmed or surpassed.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
