German Industrial Production and US NFP in limelight – Rabobank
Rabobank analysts suggest that today has some big numbers as in Germany we get industrial production which is seen at 0.1% MoM and -3.6% YoY, but after the surprise drop in factory orders yesterday, there are risks to the downside again.
Key Quotes
“In the US we get non-farm payrolls. The expectation this month is 183K with an unchanged unemployment rate of 3.6%. Average hourly earnings growth is seen 0.3% m/m and 3.0% y/y. This series is always important but most so at a time when there are lingering fears over a potential US recession (which we fully expect in H2 2020, although the labour market is a lagging indicator) and yet a market trend into year-end that keeps pushing yields higher.”
“We also get US wholesale inventories and trade, and Michigan consumer sentiment for December, which is seen slightly higher at 97.0.”
Author
Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.
