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September US labour report to be supportive of risk appetite - ING

FXStreet (Łódź) - James Knightley, Senior Economist at ING expects the US NFP report for September to set the tone for markets in the near term, boosting risk appetite.

Key quotes

"Following a really disappointing outcome in August, when the numbers undershot market expectations by 90,000, we look for decent growth of 240,000 this time, with some fairly substantial upward revisions to the August number."

"After all, other labour market indicators have remained firm, including initial jobless claims, ADP payrolls and the ISM employment indices."

"However, we believe there may be some upside risk for the unemployment rate, given that it works off the household survey, which has been even more erratic than the payrolls survey."

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