US NFP slightly stronger than expected – ANZ
By FXStreet FXStreet (Bali) – According to ANZ Research Team, on balance, US labour market data were slightly stronger than expected.
Key Quotes
“While the US economy added fewer than expected jobs in August, one was still left with the impression following Friday’s non-farm payrolls report that the labour market is in pretty good health.”
“There were upward revisions to prior months’ employment, the unemployment rate fell further, and wage growth ticked up.”
“The overall tone of the data was certainly solid enough to leave the Fed in play later this month.”
“But to be fair, the Fed’s decision of whether to hike or not is not really about the labour market.”
“Instead, the main questions are the outlook for inflation, the impact of tighter financial conditions (through USD strength), and the state of the global economy.”
“Financial market unrest obviously adds to the uncertainty and debate. Given the importance of the decision, there is no shortage of opinions. And a number of those opinions look like they were aired at the latest G20 meetings.”
“From the IMF chief who expressed caution, to the apparent dichotomy in views between emerging market and developed nation officials, everyone is putting their two cents’ worth in.”
“The debate will obviously continue to rage …read more
Source:: FX Street
