Justin Pugsley - Justin has over 20 years experience writing about markets, economics and finance. He has worked for a number of leading media organisations such as Agence France Presse (AFP), Dow Jones, Wall Street Journal, Thomson-Reuters, British Sky Broadcasting and McGrawHill.
Justin Pugsley
Justin has over 20 years experience writing about markets, economics and finance. He has worked for a number of leading media organisations such as Agence France Presse (AFP), Dow Jones, Wall Street Journal, Thomson-Reuters, British Sky Broadcasting and McGrawHill.
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US jobs number could be trigger for QE3

After the US Federal Reserve, Bank of England and the European Central Bank effectively decided on coordinated inaction this week the focus now shifts to the US non-farm payrolls number this afternoon.

“A bad US jobs number will almost certainly put intense pressure on the US Federal Reserve to take further action to support the economy,” said David Cooney, CEO of Christchurch-based foreign exchange platform provider MahiFX. “Fed Chairman Ben Bernanke has cited employment trends as a major influence on monetary policy.

Cooney added that a jobs number, which beat market expectations on the upside, could buy some more time for the Federal Reserve and put a third round of quantitative easing on the back burner for the time being. It could even bring some temporary relief to the European Central Bank and peripheral Eurozone sovereign debt markets, the performance of which has become a big driver on the value of the Euro.

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