Kay Van-Petersen
Kay Van-Petersen, macro strategist at Saxo Capital Markets, thinks that Australian cheese producer Bega is an interesting trade.
Squawk / 06 June 2016 at 1:28 GMT
Currency Analyst / REA FX FOUNT LIMITED
The U.S dollar tumbled against a basket of major currency counterparts through trade on Friday, marking is biggest one day decline in more than 3 months following a softer than anticipated labour market and jobs report. Friday’s non-farm payroll numbers showed the U.S economy added just 38,000 jobs in May, the slowest pace of labour market growth in over 5 years. While the numbers were somewhat distorted by striking Verizon employee’s the print is still well below market expectation and when coupled with a marked decline in the participation rate investors were left scrambling to adjust interest rate expectations. The dismal print all but slammed the door shut on a possible June interest rate adjustment and dramatically decreased investors’ expectations for policy action come July. Fed Funds Futures, a measure of market expectations, fell sharply on Friday falling to 37% down from 60% on Thursday.


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