FXStreet (Edinburgh) – Jim Reid, Analyst at Deutsche Bank, remarks the relevance of today’s speech by D.Lockhart.
Key Quotes
“One event worth keeping an eye on today however, particularly in light of his comments last week, will be a session from the Fed’s Lockhart who is due to speak at a Q&A event at the Atlanta Press Club this evening (due5.25pm BST)”
“Will he pull back on last week’s remarks or reinforce them? It will be interesting to know whether Friday’s US payrolls report changed anyone’s view”.
“The 215k reading print was just shy of expectations of 225k but with a cumulative 14k of upward revisions made to the prior two months”.
“In fact the majority of the associated employment indicators printed broadly in line on Friday. The unemployment rate was unmoved at 5.3% while average hourly earnings came in as expected at +0.2% mom, helping to nudge the annualized rate up to 2.1% from 2.0%”.
“There was a slight improvement in the broader U-6 unemployment rate, falling to 10.4% (down 0.1%) while average weekly hours ticked up 0.1 hours and above expectations to 34.6 hours”.
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