Ahead of U.S. NFP data today, Euro after briefly dipping below 1.10 at London's close, it was very quickly rebounded to settle near 1.1020. Private NFP to decelerate a touch to a still-healthy 225/220K in Feb from 257/26…
Ahead of U.S. NFP data today, Euro after briefly dipping below 1.10 at London's close, it was very quickly rebounded to settle near 1.1020.
Private NFP to decelerate a touch to a still-healthy 225/220K in Feb from 257/267K in Jan. We think the unemployment rate will move down to 5.6% from 5.7% (a 5.5% print would not surprise us).
RBC Capital Markets quotes as follows on Firday
"Markets are in pre-NFP mode and trading in tight ranges ahead of the key event risk. EUR/USD is doing very little trading just above 1.10 while USD/JPY is unable to follow the Nikkei's outperformance in Asia. With little news flow overnight, the USD is broadly neutral and consolidating gains made the past 48 hours".
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
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