HALISTER1: UST MORNING CALL: Global Risks, NFP Seen Eclipsing Fed Minutes

UST MORNING CALL: Global Risks, NFP Seen Eclipsing Fed Minutes

(Bloomberg) -- Impact of today’s FOMC minutes release seen limited, given the Fed meeting was before Brexit vote; release seen eclipsed by Friday’s U.S. employment report.
  • Despite Fed minutes later today, given that the geopolitical outlook is seen remaining uncertain over medium term, investors are unlikely to adjust their Fed expectations meaningfully before Friday’s NFP release, JPMorgan says in client note
  • Near-term price action may be influenced by the minutes, which may shed light on extensive lowering of “dots” on all horizons; Friday’s NFP release will be the main event, expect 155k, below consensus of 179k, Citigroup says in client note
  • Unlikely the minutes will add much new to the discussion as the meeting pre-dates Brexit, RBS says in client note
  • Technicals:
    • Resistance: 134-07 (June 24, overnight high)
    • Support: 133-00 (July 4 low), 132-14+ (50% of June 24 range), 131-01 (61.8% Fibonacci retracement of June 24 range)
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283