US NFPs next week more important than FOMC today

So says Credit Agricole. Article courtesy of our friends at efxnews.com 1 Feb

Say CA:

We expect the FOMC to take a minimalist approach this week, keeping rates steady and making few changes to the policy statement.

Chair Janet Yellen recently argued that there are few signs that the labour market is overheated, which means the Fed should be in no hurry to follow up the December hike with another one, preferring instead to wait for more data.

In the end, next Friday"s nonfarm payrolls report may prove to be the bigger driver.

Our economists expect a gain of 175K, with the growth in average hourly earnings slowing slightly to 2.7% YoY. in.

US NFPs next week more important than FOMC today
US NFPs next week more important than FOMC today
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