FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, review the day ahead, outlining the Chinese PMIs and the US Non-Farm Payrolls as the key events for Friday.

Key Quotes

"China’s official manufacturing PMI for July dominates the regional calendar (11am Syd/9am local). The median forecast is for only incremental further gain in the headline index, to 51.4 from 51.0 in June. This would be a high since Nov 2013 but is hardly a booming reading. This is the key release today but we will also see the final HSBC-sponsored version 45 minutes later expected to remain at 52.0. The Markit PMIs in other Asian nations are also due today, as are the UK and final European surveys."

"The cautiousness of FX trade in Thursday trade was probably due to the proximity of the US July employment report. The headline NFP number has beaten consensus for five straight months. Naturally this has seen consensus push higher, to 230k. Excluding the distortions of temporary census hiring, this is the most bullish forecast since Jan 2006. Westpac is on 200k. The separately surveyed unemployment rate is expected to hold steady at 6.1%."

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP Gains from GDP Report, BoE Rate Hopes - USD to Follow on FOMC?

  2. Forex News

    GBP/USD neutral bias in the near term – Westpac

  3. Forex News

    GBP/USD: Bulls in control, trades above 1.56

  4. Forex News

    GBP/USD turns positive on UK GDP

  5. Forex News

    Slowdown in UK economic activity in Q1 was temporary - Lloyds Bank

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!