Mecklai graph of the day - Will NFP surprise markets again?
Published on Fri, Feb 03, 2012 at 17:20 | Source : Moneycontrol.com
Updated at Fri, Feb 03, 2012 at 17:24
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Mecklai graph of the day - Will NFP surprise markets again?
Mecklai graph of the day - Markets are waiting for the crucial NFP data, which is scheduled to be released later today in the US session. The NFP data shows the current health of US employment.
Mecklai graph of the day - Will NFP surprise markets again?
Markets are waiting for the crucial NFP data, which is scheduled to be released later today in the US session. The NFP data shows the current health of US employment. US data this week have printed majorly in green i.e. ISM Manufacturing and Unemployment Claims printing better than its prior readings.
The leading indicators for NFP have shown mixed sign, where ADP Non-Farm for the month of Jan recorded at 170K below its prior m0nth and estimated levels, whereas the UOM showed consumer confidence improved in US. Any deviation in the NFP data as seen in the above graph (earlier months) could trigger risk aversion. A weaker NFP will point toward weaker job growth in US and increase the scope for Fed to announce QE which will add to further dollar weakness. However, better than expected NFP data would provide some strength to US dollar, especially against Japanese Yen and Swiss Franc.
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