Forex Daily Analysis - Friday, Sep 7th

All Eyes on the US Job Report

Markets still in ranges after no changes in rates from the BoE or the ECB yesterday. The trigger for further direction will be the US job report at 12:30 GMT, where the key is the Nonfarm Payrolls.

Overnight News Bullets

* SZ Unemployment Rate (Aug) out at 2.6% vs. 2.5% expected. Prior at 2.5%.
* SW Industrial Production MoM/YoY (Jul) out at 0.3%/5.2% vs. 0.5%/5.2% expected.
* SW Activity Level (Jul) out at 121.9 vs. 121.4 prior.
* UK Industrial Production MoM/YoY (Jul) out at -0.1%/0.9% vs. 0-2%/1.0% expected. Manufacturing Production MoM/YoY (Jul) out at -0.3%/0.8% vs. 0.2%/1.2% expected.
* GE Factory Orders MoM/YoY out at -7.1%/9.8% vs. -2.5%/10.5% expected.
* UK BoE keeps rates unchanged at 5.75% as expected.
* E-Z ECB keeps rates unchaged at 4.00% as expected.
* US Nonfarm Productivity (2Q F) out at 2.6% vs. 2.4% expected.
* US Unit Labor Costs (2Q F) out at 1.4% vs. 1.5% expected.
* US Initial/cont. Claims out at 318K/2598K vs. 330/2575 expected.
* CA Building Permits MoM (Jul) out at -11.3% vs. -3.3% expected. Prior at 0.1% (revised from -0.3%.)
* US ISM Non-Manufacturing (Aug) out at 55.8 vs. 54.5 expected. Prior at 55.8.
* US Mortgage Delinquencies (2Q) out at 5.12% vs. 4.84% prior.
* CA Ivey PMI (Aug) out at 58.5 vs. 56.0 expected. Prior at 54.6.
* US DOE Inventories: Crude at -3972K vs. 2200K exp, Gasoline at -1481K vs. -1300K exp., Distillate at 2256K vs. 1000K exp., Refinery at 1.82% vs. -0.25% expected.
* US EIA Natural Gas Storage out at 36 vs. 44 expected.
* US ICSC Chain Store Sales YoY (Augh) out at 2.9% vs. 2.5% expected.
* UK NIESR GDP Estimate (Aug) out at 0.7% vs. 0.8% prior.
* JN Leading Economic Index (Jul P) out at 70.0% as expected. Prior at 75.0% (revised from 72.7%.)
* JN Coincident Index (Jul P) out at 66.7% as expected. Prior at 81.8% (revised from 80.0%)

O/N Data Heat map:

EU	US	JP	UK	SZ	AU	CA	NZ	NO	SE	FR
0	+	0	-	-	0	0	0	0	0	0

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