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10 Jan 2014
Flash: Consensus expects solid US Dec non-farm payrolls - Westpac
FXstreet.com (Bali) - Consensus on US Dec non-farm payrolls is 195K, which would be a solid follow-up to the strong 203K rise in Nov, according to Sean Callow, FX Strategist at Westpac.
Key Quotes
"The Bloomberg survey produces a +/- 1 standard deviation of estimates from 171K to 219K. Westpac is on 185K and we warn that historical revisions are likely to be larger than usual, so beware the headline reading. We agree with consensus of 7.0% on the unemployment rate. Markets are probably positioned for a reading clearly above 200K so USD could be prone to pullback on the day."
Key Quotes
"The Bloomberg survey produces a +/- 1 standard deviation of estimates from 171K to 219K. Westpac is on 185K and we warn that historical revisions are likely to be larger than usual, so beware the headline reading. We agree with consensus of 7.0% on the unemployment rate. Markets are probably positioned for a reading clearly above 200K so USD could be prone to pullback on the day."