FXStreet (Delhi) – Michael Every, Research Analyst at Rabobank, suggests that globally investors will be keenly waiting for the latest set of US payrolls data, which may tell us how much longer we have to wait for the Fed to deliver a monetary policy tightening that most of the global economy is simply not ready for.
Key Quotes
“To underline that point, the Fed’s Williams last night stated that the September decision not to hike was “a very close call,” and that “...on the global side, I’m not seeing any obvious signs that those risks were on my mind and the minds of others; I don’t see signs that those have gotten worse....There’s always going to be risks, there’s always going to be uncertainties...We’re going to have to take actions that we think are the appropriate ones given our goals.””
“Responding to that message, though naturally tentative ahead of payrolls, we saw 10-year US Treasury yields dip as low as 2.01% yesterday before closing at 2.05%. Arguably it would not take too much of a data surprise today to see us break through the 2% barrier again for the first time since April.”
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