Forex News

Limited reaction for the USD on Friday’s NFP expected – focus is on next week’s CPI data

invest on stocks

Due on Friday is the October US jobs report:

Snippet preview via TD, who are forecasting +220K and a 3.7% jobless rate.

  • also forecasting wage growth to accelerate to 0.4% m/m, but to slow to 4.7% on a y/y basis
  • USD should trade in the direction of the data, though our above-consensus forecast is likely not enough to justify major upside pressure.
  • its an asymmetric reaction profile on weaker data, though we think there is some limit to the downside as CPI will be the main focus next week.

snapshot from the ForexLive economic data calendar, access
it here

times in the left-most column are GMT.

numbers in the right-most column are the ‘prior’ (previous
month/quarter as the case may be) result. The number in the column
next to that, where there is a number, is the consensus median