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31 Aug 2015
US NFP: Make or break for Sept Fed hike - RBS
FXStreet (Bali) - Brian Daingerfield, FX Trading Strategist at RBS, expects this week's US Non-Farm Payrolls report to be a “make or break” moment for a September rate hike.
Key Quotes
"While we know the Fed prefers to monitor trends rather than single month readings, one gets the sense that Friday’s employment report is a “make or break” moment for a September rate hike."
"It might be more appropriate to describe the number as a simply a “break” moment – i.e. a very strong payroll number may not be enough to price in heightened risk of a September rate hike but a weak number could push September off the table."
"Our house view for a trend-like gain may sit frustratingly in the center – neither strong enough to “confirm” an imminent rate hike nor weak enough to preclude it. Seasonally, payroll reports for the month of August have tended to surprise on the downside."