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US: All-round data supports December rate hike bets – Deutsche Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at Deutsche Bank, notes that the November US payrolls were up 211k during the month, in-line with the 12-month average and a tad ahead the 200k expected by the market.

    Key Quotes

    “Helping support the number was also a cumulative 35k of upward revisions to the prior two months too. The other components of the employment report generally offered few surprises. The unemployment rate held steady at 5%. Average hourly earnings rose +0.2% mom as expected, while the YoY rate was dragged down two-tenths to +2.3%. Hours worked fell slightly to 34.5hrs from 34.6hrs, while the labour force participation rate came in a little ahead of expectations at 62.5% (vs. 62.4% expected).”

    “Released at the same time, the October trade deficit edged slightly wider during the month, from $42.5bn to $43.9bn after expectations for a narrowing to $40.5bn. The recent slug of data has seen the Atlanta Fed edge up their Q4 GDP forecast now to 1.5% from 1.4% on December 1st. Meanwhile St Louis Fed President Bullard reiterated his stance of being an advocate for commencing policy normalization soon.”
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