6 Dec 2013
Flash: Payrolls to move markets - Rabobank
FXstreet.com (London) - Strategists at Rabobank said “With the market starting to consider the risks of tapering starting at the December meeting, today’s focus will unquestionably be the US payrolls release for November”.
Key Quotes:
“The consensus is for 185K, lower than the 204K seen in October, with a range from 115K to 230K. Private payrolls are seen as the main driver, expected at 180K, down from 212K.”
“In theory a strong payrolls print should see equities rally and bonds sell-off: however, in our current QE-driven markets it is entirely likely that a significant beat of expectations would see a broad sell-off in both bonds and equities, while a weak print may, ironically, see a rally in both”.
Key Quotes:
“The consensus is for 185K, lower than the 204K seen in October, with a range from 115K to 230K. Private payrolls are seen as the main driver, expected at 180K, down from 212K.”
“In theory a strong payrolls print should see equities rally and bonds sell-off: however, in our current QE-driven markets it is entirely likely that a significant beat of expectations would see a broad sell-off in both bonds and equities, while a weak print may, ironically, see a rally in both”.