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US NFP: Additional points about the jobs report - BBH

FXStreet (Delhi) – Research Team at BBH, lists few of the most additional points which traders will be watching while analysing today’s US NFP data.

Key Quotes

“First, the August time series (as well as the September one) is often subject to upward revisions to the first estimate.”

“Second, barring a significant surprise, those that expect the Fed to hike are largely concentrated in the December time-frame, not October.”

“Third, the unemployment rate of 5.1% is nearly identical to the level that prevailed when the Fed's last tightening cycle began. The broader measure that includes those who take part-time work because they cannot find full time work was nearer to 9.5% than August's 10.3%.”

“Fourth, compelling evidence of reduced slack in the labor market comes from higher earnings. The market expects a 0.2% rise in average hourly earnings in September. This would match the average monthly increase in recent months, and lift the year-over-year rate to 2.4%, which would be the highest since August 2009.”

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USDCAD: Straightforward setup ahead of US Payrolls - TDS

Research Team at TDS, suggest that with the Canadian employment data not released for another week, today’s event allows for a fairly straightforward setup for USDCAD as we anticipate it will follow broader USD moves.
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