Free Trial

Markets toe the line ahead of payrolls - In...>

FOREX
FOREX: Markets toe the line ahead of payrolls
- In typical pre-payrolls fashion, most currencies are playing the range Friday
morning, with volumes sitting slightly lower ahead of the NFP release. AUD and
NZD are inching higher, with CAD extending recent weakness. 
- GBP has had a slightly more eventful morning, however, with GBP initially
inching higher alongside comments from MPC member Tenreyro suggesting the labour
market could be nearing full employment. The price action then reversed,
pressing GBP/USD back to around flat on the day as she then stressed that poorer
data could result in a lower bank rate. 
- Payrolls are expected to show 160k jobs added over December, but the whisper
number has edged a little higher, currently sitting at 180k. Average hourly
wages are seen inching higher for the MoM figure to 0.3%.
- The Canadian jobs report is also due, but there are no more central bankers
scheduled to speak.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.