7 Jan 2015
Today's strong ADP print will have boosted expectations for Friday's NFP – FXStreet
FXStreet (Barcelona) - FXStreet Analyst, Craig Drake, expects that today’s healthy ADP print at 241k will have strengthened bets on further robust NFP numbers to be released on Friday.
Key Quotes
“Since July the ADP numbers have consistently undercut the subsequent non-farm payroll data. But with many expecting a correction in employment numbers after last month's huge NFP 321k print, today's 241k ADP number will have played down some of those concerns.”
“While in no way a precise predictor of the subsequent NFP print (chart of the historical shortfall between the ADP and the NFP number, BBG), today's healthy print from the ADP Research Institute will have strengthened bets on further robust numbers on Friday.”
Key Quotes
“Since July the ADP numbers have consistently undercut the subsequent non-farm payroll data. But with many expecting a correction in employment numbers after last month's huge NFP 321k print, today's 241k ADP number will have played down some of those concerns.”
“While in no way a precise predictor of the subsequent NFP print (chart of the historical shortfall between the ADP and the NFP number, BBG), today's healthy print from the ADP Research Institute will have strengthened bets on further robust numbers on Friday.”