Expect to see a lot of volatility today across the currency, treasury and equity markets today as the Bureau of Labour Statistics releases the monthly jobs numbers for August. Heading into the event, it is a mixed bag as seasonality points to a weak print on the jobs numbers with upward revisions the following months. While the median forecasts are for the US unemployment rate to have declined to 5.20%, the markets are quite divided on this as some expect the unemployment rate to remain unchanged. Given that the August jobs report remains the final piece to the puzzle, the markets will be very closely watching the numbers and could react assymetrically to the actual print. The USDCHF currerncy pair managed to gain modestly yesterday following up after a bullish engulfing candlestick pattern a day before.
Eyes Trained on US Jobs Report
Daily Analysis - 04/09/2015