According to National Bank of Canada’s analyst Krishen Rangasamy, the US economy and its labor market continue to defy doomsayers. He sees the NFP data consistent with continued expansion and higher inflation pressures. Key Quotes: “While showing downward revisions to prior months, the establishment survey was nonetheless encouraging given overall healthy gains (+164K). Those concerned about a downturn may feel reassured by continued gains in cyclical sectors such as construction and manufacturing but also in temporary employment which is a decent leading indicator.” “Wage inflation also picked up as hourly earnings climbed to 3.2% on a year-on-year basis. The household survey showed even more impressive job creation (+283K), allowing the jobless rate to remain unchanged at 3.7% (i.e. close to 50-year lows) despite an uptick in the participation rate.” “This morning’s jobs reports are consistent with continued expansion and higher inflation pressures. While that validates the Federal Reserve’s current stance of being careful with rate cuts, the escalating trade war between the U.S. and China could force the FOMC’s hand into being more aggressive than it would have liked.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP: Sterling poised to benefit from Brexit resolution but upside limited by current account deficit – CIBC FX Street 4 years According to National Bank of Canada's analyst Krishen Rangasamy, the US economy and its labor market continue to defy doomsayers. He sees the NFP data consistent with continued expansion and higher inflation pressures. Key Quotes: "While showing downward revisions to prior months, the establishment survey was nonetheless encouraging given overall healthy gains (+164K). Those concerned about a downturn may feel reassured by continued gains in cyclical sectors such as construction and manufacturing but also in temporary employment which is a decent leading indicator." "Wage inflation also picked up as hourly earnings climbed to 3.2% on a year-on-year basis. The household… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
