13 May 2013
Forex Flash: Markets to focus on America's improving labour data - UBS
FXstreet.com (Barcelona) - “For now,” says Mansoor Mohi-uddin, Managing Director Head of Foreign Exchange Strategy at UBS Macro Research, “the currency markets will continue to focus on America's improving labour market data.”
According to the analyst, FED Evans “said he was looking for monthly payrolls to rise on average above 200k in order for the Fed to consider slowing down its pace of asset purchases. Evans' views matter,” Mansoor notes, adding: “This year the six month moving average of payrolls growth has already reached 208k per month.”
From UBS: “Lower weekly jobless claims data will increase expectations that the Fed will begin to scale back its quantitative easing. Indeed the latest Wall Street Journal article from Jon Hilsenrath published late on Friday night says that officials have mapped out a strategy for winding down the Fed's bond buying. That will keep pushing the dollar higher this year,” Mr Mohi-uddin concludes.
According to the analyst, FED Evans “said he was looking for monthly payrolls to rise on average above 200k in order for the Fed to consider slowing down its pace of asset purchases. Evans' views matter,” Mansoor notes, adding: “This year the six month moving average of payrolls growth has already reached 208k per month.”
From UBS: “Lower weekly jobless claims data will increase expectations that the Fed will begin to scale back its quantitative easing. Indeed the latest Wall Street Journal article from Jon Hilsenrath published late on Friday night says that officials have mapped out a strategy for winding down the Fed's bond buying. That will keep pushing the dollar higher this year,” Mr Mohi-uddin concludes.