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US: Its payroll Friday again – Deutsche Bank

FXStreet (Delhi) – Research Team at Deutsche Bank, suggest that although the employment report is of course crucial to second guessing the Fed, it does seem that there are even bigger global issues at the moment that will exert a stronger short-term influence on the Fed.

Key Quotes

“Nevertheless its always important and given the growth fears at the moment a stronger report would probably be better received this month than in the recent past where strong data would have raised concerns about tighter policy.”

“For now the market will likely be relieved to see some strength. The market and DB is expecting the September print to rise to +200k from +173k in August and for the unemployment rate to remain steady at 5.1% and the average hourly earnings rate to grow by +0.2% MoM (down from +0.3% MoM last time around).”

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