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In focus today This week’s most important macro release, the US September Jobs Report, is due at 14.30 CET. We forecast non-farm payrolls growth at +160k, slightly above consensus. We foresee average hourly earnings growth at +0.2% m/m SA and unemployment rate steady at 4.2%. A solid print in line with our call would ease […]

The post Watch Out for September NFP appeared first on Action Forex.

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24/01/2024

NZD/JPY: JPY Crosses Under Downside Pressure after BoJ’s Hawkish Guidance

Japanese Government Bond (JGB) yields on the upmove ex-post BoJ. Positive yield premium shrinkage (JGB over the rest of the world) may put further downside pressure on JPY crosses carry trades. Watch NZD/JPY where RBNZ may reduce its hawkish rhetoric reinforced by NZ Q4’s soft inflation data. Bank of Japan (BoJ) concluded its first monetary […]
08/07/2024

French Election No Majority, No Spending Surge, But Continued Uncertainty

No party secured an absolute majority in the French National Assembly, leaving it highly fractured after the election. The left-wing New Popular Front (NPF) became the largest party, securing 182 seats. Macron’s centrist “Ensemble” alliance finished second with 168 seats. The far-right National Rally (RN) has unexpectedly taken third place, garnering 143 seats. A party […]
25/10/2024

What’s Normal, Anyway?

From debt ratios to interest rates to unemployment, simple averages of the past are often not a good guide to where things are headed. One of the frustrations of the post-GFC period was the way some people (and international agencies) assumed that historical averages of key ratios like housing prices or debt to income defined […]