May 3, 2013
Forex Flash: Today's US NFP report may boost skepticism – TD Securities
FXstreet.com (Barcelona) - TD Securities analysts consider today’s Nonfarm Payrolls data as very important jobs report since economic data has been slipping and in a recovery all about jobs another downside surprise (88k last month) would show further skepticism that last month was simply a one-off fluke. “Consensus forecasts at 145k drifted lower after the ADP report of 119k and our standing estimate of 162k looks admittedly toppish. Even if we are right, it would still represent a deceleration in job growth. The jobs number will be weaker than recent trends, even if odds favor a bounce higher in April”, wrote analyst Alvin Pontoh, expecting the unemployment rate to remain unchanged at 7.6%, (7.57%) but the risk is tilted higher.