Investors are focusing their attention on February’s US jobs report which will be released at 13:30 GMT. We are expecting the Nonfarm payrolls which is expected to rise from January’s disappointing 151 to 190, the unemployment rate and inflation of wages is expected to remain unchanged at 4.90% and 2.5%.
The possibility of an interest rate hike this year is seeming more and more unlikely. Yesterday saw very poor economic results, in regards, to inflation and employment. Janet Yellen and the Committee seem very unlikely to continue stimulus this month. This does not suggest that the Fed will not continue stimulus, just postpone it until the US economy has acclimatized.
Overnight, the Australian Dollar and New Zealand dollar has had a fairly flat trading session, despite January retail sales in Australia falling short of expectations.
