Intraday Market Thoughts

Pre-Shutdown NFP Dollar Smackdown

by Ashraf Laidi
Oct 22, 2013 14:46

Traders ignore the US unemployment rate's decline to 7.2% and focus on the double whammy of weaker than expected NFP and slowing private payrolls. The 3-month average of NFP fell to 148K, the lowest since August 2012. Next week's FOMC meeting should likely provide additional USD selling as the policy statement will acknowledge the short-term nature of the solution to the budget/debt ceiling impasse as well as the renewed softness in non-farm payrolls. More chart & analysis

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Pre-Shutdown NFP Dollar Smackdown - Audusd Oct 22 (Chart 1)

Act Exp Prev GMT
Unemployment Rate
7.2% 7.3% 7.3% Oct 22 12:30
Nonfarm Payrolls
148K 180K 193K Oct 22 12:30
Private Nonfarm Payrolls
126K 180K 161K Oct 22 12:30

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