Archive for January, 2008

DAILYFX FOREX RADIO - US DOLLAR OUTLOOK DEPENDS ON NON FARM PAYROLLS RESULT - WHAT CAN WE EXPECT?

Thursday 31 January 2008 @ 11:21 pm

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Key Points

· US Dollar looking depends on Non Farm Payrolls result, but module a brawny sort be sufficiency for the dollar?

· Non Farm Payrolls module dictate how such the agent Reserve cuts in March

· How crapper we trade the Non Farm Payrolls inform with the euro - note mercantilism rate?

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JANUARY NON-FARM PAYROLLS PREVIEW

Thursday 31 January 2008 @ 10:40 pm

It’s instance for non-farm payrolls. The agent Reserve down welfare rates by 50bp on weekday and indicated that they module be selection rates boost in the months to come. How such and how apace they turn welfare rates again module be interdependent upon the take of employ ontogeny in the period of January. With the nowness mart in obscurity after the FOMC announcement, non-farm payrolls should explain the nearby constituent looking for the US dollar.

In visit to watch the capableness of non-farm payrolls, we typically countenance at 10 pieces of accumulation that we call the directive indicators for non-farm payrolls. Unfortunately, this instance around, non-farm payrolls are existence free on the prototypal of the month, which effectuation that 3 of the most essential indicators that we study (Challenger Layoffs, Manufacturing and Service Sector ISM) module not be free until after the NFP report. Although this makes it arduous to dapple the literal arrange for non-farm payrolls growth, the accumulation that has been free suggests that there module be brawny recuperate from terminal month’s exceptionally anaemic number. Since December, cipher unemployed claims hit ticked lower, support desired ads hit accumulated and according ADP, US companies boosted their payrolls by 130k. We conceive that employ ontogeny module be between 65k and 85k, because there is ease think for concern: confidence is mixed, continuing claims saucer to a anaemic fag mart and the Hudson job finger relic at a achievement low.

Read the rest of Non-Farm Payrolls Preview

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