30 Mar 2015
G10 FX week ahead: US payrolls in focus – Nomura
FXStreet (Barcelona) - Franklin Wang, Research Analyst at Nomura, previews the key data releases in US, Europe and China this week.
Key Quotes
“In the US, personal income and spending will be released on Monday; we expect personal income to rise by 0.4% in February and personal spending to rise by 0.5%. ISM manufacturing index will be released on Wednesday; we expect the index to decline by 0.2pp to 52.7 in March due to the downbeat business sentiment reflected by the February ISM manufacturing report.”
“On Friday, we will receive the March employment report; we forecast a 220K increase in private payrolls and a 5K increase in government jobs, taking the total to an increase of 225K.”
“In Europe, flash estimate of the eurozone will be released on Tuesday, for which we forecast 0.0% y-o-y from -0.3% previously due to the increase in fuel prices.”
“We will receive UK’s manufacturing PMI on Wednesday; we expect a dip in output growth to lower the headline index to 53.9."
“Elsewhere in the world, China will release its official PMI on Wednesday; we expect a drop to 49.7 in March from 49.9 previously, due to severe overcapacity in property and other sectors.”
Key Quotes
“In the US, personal income and spending will be released on Monday; we expect personal income to rise by 0.4% in February and personal spending to rise by 0.5%. ISM manufacturing index will be released on Wednesday; we expect the index to decline by 0.2pp to 52.7 in March due to the downbeat business sentiment reflected by the February ISM manufacturing report.”
“On Friday, we will receive the March employment report; we forecast a 220K increase in private payrolls and a 5K increase in government jobs, taking the total to an increase of 225K.”
“In Europe, flash estimate of the eurozone will be released on Tuesday, for which we forecast 0.0% y-o-y from -0.3% previously due to the increase in fuel prices.”
“We will receive UK’s manufacturing PMI on Wednesday; we expect a dip in output growth to lower the headline index to 53.9."
“Elsewhere in the world, China will release its official PMI on Wednesday; we expect a drop to 49.7 in March from 49.9 previously, due to severe overcapacity in property and other sectors.”