NFP Preview: Any softness in activity or price data would be Dollar bearish – ING

FXStreet Insights Team FXStreet

Economists at ING analyze how today's US April NFP data could impact the Dollar.

US NFP is in focus

“Consensus expects a decent, but softer, 185k increase in the headline jobs data and average hourly earnings increasing at 0.3/4.2% month-on-month/year-on-year.”

“Any softness in activity or price data would be supportive of market pricing of the first Fed cut in September and would be Dollar bearish.”

“Conversely, any above-consensus price data would add to recent sticky inflation releases such as the first quarter Employment Cost Indicator. This would see a bearish flattening of the US yield curve and send the Dollar higher.”

See – US Nonfarm Payrolls Bank Preview: Smaller, but still positive change in employment

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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