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Limited reaction for the USD on Friday's NFP expected - focus is on next week's CPI data

Started by forex4you, Nov 04, 2022, 06:08 am

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Limited reaction for the USD on Friday's NFP expected - focus is on next week's CPI data

<p>Due on Friday is the October US jobs report:</p><ul><li><a href="https://www.forexlive.com/news/october-non-farm-payrolls-preview-by-the-numbers-20221103/" target="_blank" data-article-link="true">October non-farm payrolls preview: By the numbers</a></li></ul><p>Snippet preview via TD, who are forecasting +220K and a 3.7% jobless rate. </p><ul><li>also forecasting wage growth to accelerate to 0.4% m/m, but to slow to 4.7% on a y/y basis</li><li>USD should trade in the direction of the data, though our above-consensus forecast is likely not enough to justify major upside pressure.</li><li>its an asymmetric reaction profile on weaker data, though we think there is some limit to the downside as CPI will be the main focus next week.</li></ul><p class="western" align="left">
This
snapshot from the ForexLive economic data calendar, <a href="https://www.forexlive.com/EconomicCalendar">access
it here</a>.</p><p class="western" align="left">
The
times in the left-most column are GMT. </p><p class="western" align="left">
The
numbers in the right-most column are the 'prior' (previous
month/quarter as the case may be) result. The number in the column
next to that, where there is a number, is the consensus median
expected.</p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: Limited reaction for the USD on Friday's NFP expected - focus is on next week's CPI data

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