7 May 2015
Key events coming up; Aussie jobs in focus next - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank explained the key events coming up today.
Key Quotes:
"We have Aussie labour force, which is seen +4.0K in April with the unemployment rate rising a tick to 6.2%. Given we have just had the RBA rate cut, and we get the Statement on Monetary Policy tomorrow, this release might have somewhat less impact than it usually does. (To say nothing of how erratic it has been since the ABS decided to take it apart to see how it works, and then found when they put it back together they had a spare screw and a small grey bit they can’t identify.) However, with AUD testing 0.80 yesterday, a weak report could arguably see selling."
"After that we get the Japanese services PMI (sub-50 last month), and then German factory orders, seen up 1.5% MoM, which ironically might give EUR another push in the direction that will undermine exactly this kind of output."
"In the UK, we have the general election and its attendant ‘swing-o-meter’ pomp and circumstance."
"In the US, we have initial claims, the plunge in which to 262K last week saw a brief spike in USD: consensus this week is a rise back to 278K. Consumer credit is also out, seen rising to USD15.8bn."
Key Quotes:
"We have Aussie labour force, which is seen +4.0K in April with the unemployment rate rising a tick to 6.2%. Given we have just had the RBA rate cut, and we get the Statement on Monetary Policy tomorrow, this release might have somewhat less impact than it usually does. (To say nothing of how erratic it has been since the ABS decided to take it apart to see how it works, and then found when they put it back together they had a spare screw and a small grey bit they can’t identify.) However, with AUD testing 0.80 yesterday, a weak report could arguably see selling."
"After that we get the Japanese services PMI (sub-50 last month), and then German factory orders, seen up 1.5% MoM, which ironically might give EUR another push in the direction that will undermine exactly this kind of output."
"In the UK, we have the general election and its attendant ‘swing-o-meter’ pomp and circumstance."
"In the US, we have initial claims, the plunge in which to 262K last week saw a brief spike in USD: consensus this week is a rise back to 278K. Consumer credit is also out, seen rising to USD15.8bn."