5 Sep 2013
Flash: USD, G20 and NFP's in focus - TD Securities
FXstreet.com (London) - Research teams at TD Securities said, after making it through six G10 central bank meetings this week, we now have US nonfarm payrolls to contend with.
"We see downside risks, but not nearly enough to derail the Fed from tapering by $10bn later this month".
"Markets will also be focused closely on G20 meetings in Russia, and especially the talks on the sidelines about potential Syrian intervention".
"Data over the last week has continued to impress, particularly in Europe, although the US is also catching up while Canada lags far behind".
"This has pushed global rates even higher still, and G10 central banks have yet to mount any real fight against these moves".
"The data is too strong anyways for verbal intervention to have any real lasting traction".
"We see downside risks, but not nearly enough to derail the Fed from tapering by $10bn later this month".
"Markets will also be focused closely on G20 meetings in Russia, and especially the talks on the sidelines about potential Syrian intervention".
"Data over the last week has continued to impress, particularly in Europe, although the US is also catching up while Canada lags far behind".
"This has pushed global rates even higher still, and G10 central banks have yet to mount any real fight against these moves".
"The data is too strong anyways for verbal intervention to have any real lasting traction".