How to evaluate the latest NFP?
Data on Friday showed that US employers had added a slightly above-forecast 175K jobs in May (forecast: +167K). However, the majority of analysts still think that this didn’t point to a sustained recovery in the economy. So, the greenback will probably remain vulnerable to weak US data.
“Friday’s jobs data was neither strong enough nor weak enough to provide any additional clarity,” says BNP Paribas.
The opinions of when the Fed will start declining the amount of asset purchases split. Reuters poll shows that it will happen already in September. According to economists surveyed by Bloomberg, US central bank will begin tapering QE in October. Analysts at IGN are expecting these changes in December.
The Fed’s next policy meeting is on June 18-19.