The USD is unloved right now, but that could change somewhat if today's US payrolls provide the market with some sort of clarity around the US...

Chris Weston

Pepperstone

The USD is unloved right now, but that could change somewhat if today's US payrolls provide the market with some sort of clarity around the US economy. Expectations are low, with traders speculating that weather issues will continue to play into the print, while a number of the key lead indicators - such the employment sub-component of the services ISM and ADP payrolls - have been weak. In the prior two payrolls reads we had strong lead indicators and lofty expectations (despite the weather) and both employment prints ended up being poor. Using this contrarian throwaway logic I am going to speculate that today's payrolls report is going to be strong, with a guesstimate of 185,000 jobs. This would be getting into the top end of the economists' range and over the consensus of 149,000. (VIEW LINK)


Chris Weston
Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

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