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3 Aug 2015
Dollar bloc employment extravaganza (Wed-Fri 5-7 Aug): - TDS
FXStreet (Guatemala) - Analysts at TD Securities noted the key employment data events for the week ahead beside Nonfarm Payrolls for the US.
Key Quotes:
"It’s employment reports everywhere and all over the place as we look for downside risks for July Aussie employment, in-line New Zealand Q2 employment, and upside risks for Canada, at least relative to early consensus."
"We look for a 15k gain in July, rebounding from the 6k loss in June. Rather than reflecting any optimism, we think the issue could be seasonal factors in the temporary hiring in the service producing sector, as well as the Pan Am games. We continue to be uneasy about full-time hiring being ripe for a correction lower, though, so upside in employment should likely be seen as an entry point for positioning for a greater likelihood for a further Bank of Canada rate cut."
Key Quotes:
"It’s employment reports everywhere and all over the place as we look for downside risks for July Aussie employment, in-line New Zealand Q2 employment, and upside risks for Canada, at least relative to early consensus."
"We look for a 15k gain in July, rebounding from the 6k loss in June. Rather than reflecting any optimism, we think the issue could be seasonal factors in the temporary hiring in the service producing sector, as well as the Pan Am games. We continue to be uneasy about full-time hiring being ripe for a correction lower, though, so upside in employment should likely be seen as an entry point for positioning for a greater likelihood for a further Bank of Canada rate cut."