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10 Feb 2014
Flash: NFP Should we blame the weather again? – UBS
FXStreet (Córdoba) - The UBS analyst team commented on the disappointing US nonfarm payrolls reading seen last Friday and their view on the EUR/USD.
Key Quotes
"US non-farm payrolls (NFP) came below expectations. This dampens the hope for a continuation of tapering slightly, even though the unemployment rate fell to 6.6%, very close to the Fed's threshold for forward guidance of 6.5%".
"Part of the explanation for soft payrolls are lousy weather conditions in the US in January. Nevertheless, the data still confirms continued improvement in US employment and we expect EUR/USD to drift to the lower end of our 1.30-1.38 range in coming months".
Key Quotes
"US non-farm payrolls (NFP) came below expectations. This dampens the hope for a continuation of tapering slightly, even though the unemployment rate fell to 6.6%, very close to the Fed's threshold for forward guidance of 6.5%".
"Part of the explanation for soft payrolls are lousy weather conditions in the US in January. Nevertheless, the data still confirms continued improvement in US employment and we expect EUR/USD to drift to the lower end of our 1.30-1.38 range in coming months".