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Nonfarm Payrolls Xmas carol - Raboabnk

FXStreet (Guatemala) - Analysts at Rabobank noted the key events, or should we say, key 'event' ahead?

See here for Nonfarm Payrolls preview

Key Quotes:

Today is all about US payrolls. In light of the holiday period that we are in and the generally farcical nature of markets at the moment, I would like to cover this topic in the form of a Christmas Carol.

On the first month of payrolls, the BLS sent to me: 201K, OK you’ll agree;

On the second month of payrolls, the BLS sent to me: 266K and lots of glee;

On the third month of payrolls, the BLS sent to me: just 119K, my knees were wobbly;

On the fourth month of payrolls, the BLS sent to me: 187K that made me happy;

On the fifth month of payrolls, the BLS sent to me: two hun-dred and sixty kay, yippee!;

On the sixth month of payrolls, the BLS sent to me: a 245K I was glad to see;

On the seventh month of payrolls, the BLS sent to me: 223K that kept me cozy;

On the eight month of payrolls, the BLS sent to me: just 153K that made me crabby;

On the ninth month of payrolls, the BLS sent to me: 137K, and I spilled my tea;

On the tenth month of payrolls, the BLS sent to me: 271K that made me dizzy;

On the eleventh month of payrolls, the BLS sent to me: ....we shall have to wait and see...

But as Yellen made clear, unless we get a sub-100K number today (consensus is 200K), it looks like a rate hike for Xmas, folks. With the ECB also playing the Grinch more than Santa in the markets’ eyes, December could be very ‘interesting’: watch out for black swans and black ice. Happy Friday!"

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