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4 Feb 2015
US data in focus - Rabobank
FXStreet (Guatemala) - Jane Foley, Senior Currency Strategist at Rabobank gave an insight into the data environment surrounding the US economy.
Key Quotes:
"The market consensus for Friday’s release of the January labour data stands at 230K. This is below the 252K headline figure reported for January and takes into account some concerns of market analysts. Friday’s US Q4 GDP report was weaker than expected at 2.6% q/q saar."
"It would have been even weaker if it wasn’t for a huge increase in inventories. The danger is that this build in stocks translates into lower production in the initial months of this year which could in turn produce a headwind to employment growth."
"Feeding this concern have been the softer tone of data such as the Jan ISM manufacturing report and the larger than expected -3.4% m/m decline in Dec factory orders."
Key Quotes:
"The market consensus for Friday’s release of the January labour data stands at 230K. This is below the 252K headline figure reported for January and takes into account some concerns of market analysts. Friday’s US Q4 GDP report was weaker than expected at 2.6% q/q saar."
"It would have been even weaker if it wasn’t for a huge increase in inventories. The danger is that this build in stocks translates into lower production in the initial months of this year which could in turn produce a headwind to employment growth."
"Feeding this concern have been the softer tone of data such as the Jan ISM manufacturing report and the larger than expected -3.4% m/m decline in Dec factory orders."