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4 Apr 2014
Risk of USD strength on positive NFP - RBS
FXStreet (Bali) - Brian Daingerfield, FX Strategist at RBS, expects a solid 220k gain in the NFP number later today, whcih in his opinion, would lead to USD strength across the board.
Key Quotes
"Or house view is for a +220K gain – one that incorporates some weather pick-up but, importantly, not a strong change in the trend of employment from the 2013 pace of job gains when accounting for potential (positive) weather impacts."
"We anticipate private payrolls rising +220K and the unemployment rate unchanged. This would likely be enough to encourage continued USD strength as markets romance the possibility of sooner than anticipated FOMC tightening, but not enough change in the trend to move the Fed off a dovish path."
Key Quotes
"Or house view is for a +220K gain – one that incorporates some weather pick-up but, importantly, not a strong change in the trend of employment from the 2013 pace of job gains when accounting for potential (positive) weather impacts."
"We anticipate private payrolls rising +220K and the unemployment rate unchanged. This would likely be enough to encourage continued USD strength as markets romance the possibility of sooner than anticipated FOMC tightening, but not enough change in the trend to move the Fed off a dovish path."