Saturday, October 3, 2015

Nothing good from NFP - BBH

FXStreet (Córdoba) - According to analysts from Brown Brothers Harriman there is no single positive detail from the US employment report for September, rising doubts about a rate hike in 2015.

Key Quotes:

“There is nothing good that can be said about the US jobs data. It was simply dreadful. Every metric disappointed, and the August series which so often is revised higher, came in lower. This will raise fresh doubts about the US economy and the ability of the Federal Reserve to raise rates, not just this month, but this year.”

“The shockingly poor data will make upcoming numerous Fed official comments, including Fischer later today, all the more important. Most observers did not expect an October move in any event. Officials may reassure that the Fed is looking at the larger picture, but it will take firmer employment data to convince a skeptical market.”
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