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Jobs Data May Lead to On Day Chatter

Posted by WorldWideMarkets . on Nov 8, 2013 3:43:00 AM

The consensus forecast for nonfarm payrolls is 125,000 for the month of October. The risks stem from impact on the private sector of the government shutdown as well as any hit on government jobs directly. The latter is most likely expected and probably incorporated into forecasts but anything outside the deviation is going to unnerve investors.


The  number itself may cause some on day chatter but it is mostly irrelevant to the tapering question. FX investors are now talking an April tapering so an October number is unlikely to do much to sway sentiment this far ahead of the forecast start date for the Fed to begin windingdown its asset stimulus program, despite what the media may report.jobs resized 600

 

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