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3 Dec 2014
Key events ahead – Rabobank
FXStreet (Guatemala) - Analysts at Rabobank explained the day ahead starting out in Europe with key events coming up.
Key Quotes:
“We turn to Eurozone services, where the recent pattern of a struggling France, a slightly-growing Germany, and a weak, lop-sided Eurozone aggregate are expected to continue”.
“UK services are expected to be buoyant, however, at 56.5”.
“In the US the main focus is on the lottery that is ADP Employment, seen at 222K vs. 230K last month. Notably, however, these will be contrasted with a final Q3 unit labor costs print expected to show a fall of 0.2% QoQ – hardly inflationary”.
“The US services PMI is also expected to be buoyant at 57.5 (note the pattern: doing QE, seeing a lower currency, and successfully reflating a housing bubble = strong services; not doing so = weak services)”.
“We then have Plosser speaking on the economic outlook, followed by the Beige Book, which we hope will provide some richer colours. Brainard then rounds out the day’s US calendar talking on financial stability – perhaps he might like to confer with his apparently-bullish colleagues before touching on that subject”.
Key Quotes:
“We turn to Eurozone services, where the recent pattern of a struggling France, a slightly-growing Germany, and a weak, lop-sided Eurozone aggregate are expected to continue”.
“UK services are expected to be buoyant, however, at 56.5”.
“In the US the main focus is on the lottery that is ADP Employment, seen at 222K vs. 230K last month. Notably, however, these will be contrasted with a final Q3 unit labor costs print expected to show a fall of 0.2% QoQ – hardly inflationary”.
“The US services PMI is also expected to be buoyant at 57.5 (note the pattern: doing QE, seeing a lower currency, and successfully reflating a housing bubble = strong services; not doing so = weak services)”.
“We then have Plosser speaking on the economic outlook, followed by the Beige Book, which we hope will provide some richer colours. Brainard then rounds out the day’s US calendar talking on financial stability – perhaps he might like to confer with his apparently-bullish colleagues before touching on that subject”.