• Dollar falls broadly as NFP disappoint; unemployment rate edges down but that was due to lower participation rate, not higher employment. Bond yields plunge & Fed Funds futures implied forecasts fall on thoughts that Fed will delay tapering, but later recoup half their losses. • China’s exports higher, imports lower than expected so trade surplus jumps; CPI falls slightly = economy improving with no inflationary threat. AUD-positive. • Liberal-National coalition wins Australian elections, ousting the incumbent Labor Party; no FX implications seen • No major data out today. Eurozone Sentix investor confidence index expected to rise, US consumer credit for July expected +$12.6bn vs +$13.8bn in June • For the week we look for US retail sales & consumer confidence (Fri); China money & lending growth, retail sales; UK labor data (Wed); and RBNZ meeting (Fri AM)
Posted on: Mon, 09 Sep 2013 05:50:59 +0000
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