NFP Preview - RBS set out their stall

Discussion in 'Market News' started by ForexLive, Feb 5, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Latest client note from RBS courtesy of our friends at RBS trading desk forecast NFPs of 180k and add: - We do not have strong conviction in a higher USD prevailing even on an outperformance in US employment, especially if it comes without a clear uptick in wage inflation, which is a key variable in linking solid employment gains to an eventual pickup in inflation. But after two days of broad USD weakness, particularly vs. the commodity exporters, we think the USD could gain a temporary reprieve on a buoyant report that surprises on both job gains and wage inflation. A stronger USD and a sense that rate hikes in the US remain "live" could weigh on USD-based commodity prices, including oil prices. N.

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