Pre-NFP Payrolls Macro Overview for 08/12/2017

 Partial data from the US labor market indicates a solid pace of employment growth in November. The unemployment rate at 4.1 % is already at the level that the Fed forecasts for the next two years, so a further drop will be an argument for more hawkish comments. However, the salary growth remains the most important factor, where expectations are high. However, the sensitivity of the US Dollar will be higher in case of a weaker reading.

In Canda, the central bank kept the overnight interest rate unchanged in a widely expected move, but in the monetary statement on the subject of future changes in interest rates, it showed greater caution than the market expected.
In the last hours around USD, there is more hope than worries, which helps in improving prices. 

About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

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