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15 May 2015
US: Waiting for a turn in May - ANZ
FXStreet (Bali) - According to ANZ Economics Team, it is hoped that the pending batch of May data in the US will show improving signs, which should lead to a Fed liftoff talk back into play.
Key Quotes
"Despite the US labour market strengthening, signs of price pressure remain scant, while activity data has generally failed to live up to expectations."
"Whether it is the lingering impact of storm disruptions or the impact of other factors – including the earlier strengthening in the USD – the culprit is still not clear."
"Somewhat ironically the USD has copped the flak, with the dollar index some 7% off its mid- March peak, although it is still around 17% higher than a year ago."
"It is hoped that the pending batch of May data, including tonight’s Empire manufacturing survey and University of Michigan confidence survey will show improving signs and that this improving tone will persist, bringing the Fed into play."
Key Quotes
"Despite the US labour market strengthening, signs of price pressure remain scant, while activity data has generally failed to live up to expectations."
"Whether it is the lingering impact of storm disruptions or the impact of other factors – including the earlier strengthening in the USD – the culprit is still not clear."
"Somewhat ironically the USD has copped the flak, with the dollar index some 7% off its mid- March peak, although it is still around 17% higher than a year ago."
"It is hoped that the pending batch of May data, including tonight’s Empire manufacturing survey and University of Michigan confidence survey will show improving signs and that this improving tone will persist, bringing the Fed into play."