Key events this week: US NFP may come out higher than expected – TDS
2 February 2015, 13:12
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The TD Securities Team previews the key events of the week ahead, further expecting US NFP to register an above consensus print at 245k.
Key Quotes
“The highlight of the week ahead will be the North American employment reports on Friday. While we look for US payrolls to be slightly higher than consensus at 245k (consensus: 235k), we also look for the unemployment rate to rise to 5.6% from 5.5% (consensus: 5.5%) on the back of a rising participation rate.”
“In Canada, we look for an 11k fall in employment in contrast to consensus’ expectations of a 5.5k rise on the back of a lack of hiring, particularly in energy intensive sectors.”
“In the Eurozone, the highlight will be German factory orders and IP later this week, where we look for a better than expected print while in a fairly light week for data, markets may be paying more attention to the Greek negotiations, where the Syriza-led government has until the end of the month to come to an agreement with the Troika and secure the funding that it needs.”
“In the UK, we look for a better than consensus PMI services on Wednesday while the BoE on Thursday should leave rates on hold ahead of next week’s Inflation Report.”
“In EM, we expect the RBI to cut rates early tomorrow morning while Poland should leave rates unchanged on Wednesday.”
Key Quotes
“The highlight of the week ahead will be the North American employment reports on Friday. While we look for US payrolls to be slightly higher than consensus at 245k (consensus: 235k), we also look for the unemployment rate to rise to 5.6% from 5.5% (consensus: 5.5%) on the back of a rising participation rate.”
“In Canada, we look for an 11k fall in employment in contrast to consensus’ expectations of a 5.5k rise on the back of a lack of hiring, particularly in energy intensive sectors.”
“In the Eurozone, the highlight will be German factory orders and IP later this week, where we look for a better than expected print while in a fairly light week for data, markets may be paying more attention to the Greek negotiations, where the Syriza-led government has until the end of the month to come to an agreement with the Troika and secure the funding that it needs.”
“In the UK, we look for a better than consensus PMI services on Wednesday while the BoE on Thursday should leave rates on hold ahead of next week’s Inflation Report.”
“In EM, we expect the RBI to cut rates early tomorrow morning while Poland should leave rates unchanged on Wednesday.”
