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US manufacturing softness unlikely to deter the Fed - BNPP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Economists at BNP Paribas, view that the headwinds facing the US manufacturing sector do not alter expectations for the Fed to start tightening in December.

    Key Quotes

    “The Fed seem willing to focus on better performing aspects of the economy, meaning that the impact of Monday’s soft survey data on US front-end yields was minimal. Moreover, even within the manufacturing reports, there was evidence of improvement in labour market conditions, with the employment component of the Chicago release improving to above 51 and the Dallas Fed employment measure also extending its recovery.”

    “We expect the November ISM to stay above the 50 mark on Tuesday and think it would take significant deterioration in the key releases this week to call into question the Fed ‘s intention to hike this month. We expect USD momentum to remain intact heading into the meeting.”
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