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5 Apr 2013
Forex Flash: NFP at 200k - Westpac
FXstreet.com (Barcelona) - “The Asia-Pacific calendar offers limited distraction ahead of the US Mar employment report,” notes Westpac's Sydney based strategist Sean Callow, adding: “While the Bloomberg median NFP forecast has crept down from 199K to 190K this week, we suspect the market is positioned for a figure nearer 170K, in the wake of soft ISMs, ADP and jobless claims,” Sean points out.
“Westpac is still on 200K, with an unemployment rate of 7.8% (consensus 7.7%),” the analyst expands, concluding: “We expect USD to react positively on any upside payrolls surprise and vice versa i.e. pro-growth rather than as a safe haven. The US Feb trade balance will be released at the same time, sure to be overlooked.”
“Westpac is still on 200K, with an unemployment rate of 7.8% (consensus 7.7%),” the analyst expands, concluding: “We expect USD to react positively on any upside payrolls surprise and vice versa i.e. pro-growth rather than as a safe haven. The US Feb trade balance will be released at the same time, sure to be overlooked.”