Nick Batsford, CEO of Tip TV, was alongside Zak Mir, technical analyst for ShareProphets.com, when he opened the Tip TV Finance Show on the 2nd October 2015 to discuss the release of the US non-farm payroll numbers today, as well as US car sales and Super Mario Draghi.
Non-farm payroll numbers will do nothing for the rate hike situation
Mir noted that the market rally on the last day of the quarter is a clear sign of people covering their shorts, which is expected ahead of the US NFP numbers today. He continued that the non-farm payroll numbers do nothing for the interest rate hike situation, with the window closing quickly on Yellen and the Fed to make a move, overall he concluded the Fed have made a mess of the situation. Batsford commented on FX Street, who highlighted a 203k print could be a non-event and would only add to the unlikely chance that a US rate hike would occur in 2015. Meanwhile, they added Sterling could cheer with a strong NFP number.
VW already in trouble, and emissions scandal only worsening situation
Batsford commented on Nicole Elliot, who outlined that Annualised US auto sales soared in September to a record high of 18.2 million units from 17.8 in August and way above some of the higher forecasts. The biggest of the bunch, GM, saw volume increase 12% to 251,000 units shifted, meanwhile, Ford was up 23% and Fiat Chrysler had its best September since the year 200 with Jeep sales also up 40%. Not surprisingly, Volkswagen (XETRA:VOWG) sales rose a paltry 0.6% on the month – but did better than August results of an 8% decline. Mir added that it is clear that within the US, US car makers are winning the war in the US.
Global Citizen Award for Draghi
Batsford commented on Elliot, who continued that ECB President Mario Draghi said ‘growth id returning. The way forward is identified. And we will not rest until our monetary union is complete’.