Week ahead: Focus likely on US data – Nomura

By FXStreet FXStreet (Bali) – This week, the focus will likely be largely on US data, notes David Fritz, Global FX Strategist at Nomura.

Key Quotes

“In that regard, there are two data points that will command more attention than the others; namely, retail sales and the JOLTS report.”

“Consumer fundamentals have largely been favorable (low energy prices, a high savings rate, and a solid labor market improvement), but recent financial volatility may dampen consumer activity, and retail sales data on Wednesday will indicate the relative health of consumer spending given these developments.”

“The JOLTS report will indicate the amount of “churn” in the jobs market, a measure of the health of the labor market. The Beige Book is expected to show slowing economic momentum at the end of the third quarter, and it will be interesting to look for the impact of external factors on business activity.”

“The data will be continuously scrutinized in the context of expectations for timing of the Fed’s liftoff, which Nomura currently sees as marginally more likely to be in March 2016 rather than December 2015.”

“The recent minutes released did not give a clear indication except to reiterate that the Committee expects that conditions for liftoff will be …read more

Source:: FX Street