Intraday Market Thoughts
Pre-Shutdown NFP Dollar Smackdown
by
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
Click To Enlarge
| 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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