Brace for heavy data loaded Friday, including NFP and G-20 – Rabobank

By FXStreet FXStreet (Delhi) – Michael Every, Research Analyst at Rabobank, suggests that Friday is going to be data heavy day with US NFP being the most important data, followed by the G-20 nations meet.

Key Quotes

“Talking of sharp swings, today is all about one thing: US payrolls. Nonetheless, there are other things to keep us entertained until that show starts. We have German factory orders, seen -0.6% in July after a bumper June, sandwiched between a speech from the Fed’s Kocherlakota (who is a major dove) and Lacker (whose speech is titled “The Case Against Further Delay”, which really needs no further explanation.)”

“In terms of payrolls themselves the consensus today is 217K after 215K last month, with the unemployment rate expected to nudge down a further tick to 5.2%. Average hourly earnings are expected up 0.2% MoM and 2.1% YoY once again (meaning that if we get headline CPI back to normal we basically have flat real wage growth).”

“The next focus after that is the G-20 meeting in Ankara today and tomorrow, where there is plenty to discuss.”
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Source:: FX Street