Video

Playlist

Show less
1:32
Why I’m selling EURUSD: Lambert
Clive Lambert - FuturesTechs
Friday at 7:45 GMT
2:43
Why I'm selling DAX: O'Hare
Steve O'Hare - First 4 Trading
Thursday at 8:23 GMT
2:50
Two-way risk for EURGBP — #SaxoStrats
John J Hardy
Tuesday at 11:42 GMT
3:28
Why I'm selling USDCAD: Coleman
Ian Coleman - First 4 Trading
Tuesday at 7:31 GMT
2:15
The week ahead in macro — #SaxoStrats
Kay Van-Petersen
16 October 2017 at 11:17 GMT
23:04
Macro Monday WK 42: China National Congress Party — #SaxoStrats
Kay Van-Petersen
16 October 2017 at 7:42 GMT
Video / 06 October 2017 at 7:24 GMT

From the Floor: Calm ahead of hurricane-dampened NFP – #SaxoStrats

#SaxoStrats
  • NFP expectations between + 75,000 and + 80,000 – Rawashdeh
  • NFP to confirm US economy is growing steadily – Garnry
  • We expect the biggest NFP action in EM equities   – Garnry
  • IBEX bias is to upside, we could see further strengthening  – Garnry
  • USD rally extends, especially versus commodity currencies  – Hardy
  • GBPUSD  crashed through pivot zone with other USD pairs – Hardy
  • Rising yields and strong equity markets are holding JPY back – Hardy

strats

By Clare MacCarthy

Markets are calm in the wake of a record-breaking Wall Street session and sentiment is rather upbeat ahead of the week's key event – today's US nonfarm payrolls report. Although this report is likely to reveal one of the weakest rates of job creation in the US this year, this is seen as a result of the recent spate of severe hurricanes rather than a reflection of any underlying weakness in the economy. 

"NFP is likely to confirm that the US economy is growing steadily," says Peter Garnry, Saxo's head of equity strategy, adding that the biggest impact in terms of equities will likely be seen in emerging markets. Only a strong divergence from the expected addition of between 75,000 to 80,000 new jobs would cause major ripples,says John J Hardy, Saxo's head of forex strategy.

Among the major currencies as we lead in to the NFP data, the USD rally has extended, especially versus commodity currencies, while Cable has crashed through a pivot zone with other USD pairs, Hardy reports. This follows another round of political uncertainty in the UK after prime minister Theresa May's calamitous speech at the Tory party conference.

Finally, the Catalonian political crisis is still evolving but Spanish equities have nevertheless regained some equilibrium. "The IBEX bias is to the upside and we could see further strengthening," Garnry concludes.

Grand Central

















US NFP expected to reveal continued steady economic growth. Photo: Shutterstock





Relevant articles for you

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor.com permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Tradingfloor.com and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Tradingfloor.com is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Tradingfloor.com or as a result of the use of the Tradingfloor.com. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail