Forex Flash: NFP points to a loss of momentum - BBH

FXstreet.com (Barcelona) - Later on US NFP data at 12:30 GMT is one of the most important risk events for the week, and it “comes on the heels of a series of economic reports that were weaker than the consensus expected and points to a loss of momentum in late Q1 that is carrying into Q2,” says Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman.

“Economists had generally under-estimated the strength of high frequency data in early Q1 and by the time they adjusted, the US economy began softening,” Marc notes, adding: “This pattern warns of downside risks to tomorrow's jobs report. Yet, even if the number is in line with expectations, it represents a clear slowing,” the analyst suggest. “The 3-month average is 171k and the 6-month average is near 201k,” he concludes.