Rumours are indeed strong movers, especially in the markets. Just because oil production has increased to historical high, speculation of increase in interest rates, U.S jobless claims fell unexpectedly yesterday to a level not seen since 2006, while the number of planned layoffs by US employers fell to a 14-year low in September. Job creation is at a six-year high setting the stage for a relatively robust US Non-Farm Payrolls figure for September later today. The market consensus is for a rise of 215k, up from the unexpectedly low 142k in August. A rise above 200k remains positive, and may still somewhat move the markets more than expected. The unemployment rate is likely to remain unchanged at 6.1%, while average hourly earnings are expected to accelerate slightly on a year on year basis. Data along these lines could be expected to support the dollar as they would confirm the steady improvement in the labor market, one of the key worries for the Federal Reserve. All these are enough to keep the markets busy supporting the greenback before the data release? Or are just speculators and market makers preparing to make early entries and exits?
Posted on: Fri, 03 Oct 2014 08:42:53 +0000
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