2 Jul 2015
Another firm US NFP expected - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, observes that due to the strong Jun US manufacturing ISM saw the employment subindex rise sharply and ADP employment surprised to the upside, another firm US NFP print is now expected.
Key Quotes
"US Jun employment report will be released a day earlier than usual due to the Independence Day holiday. The median forecast for nonfarm payrolls is 233k. The strong Jun manufacturing ISM saw the employment subindex rise sharply and ADP employment surprised to the upside, pointing to another firm NFP print."
"The jobs data is arguably the first major release over the coming weeks that will have a genuinely decisive impact on Sep Fed hike odds. We will also see May factory orders, though this will be overshadowed by payrolls. There should be limited surprise in the number given that we have already seen durable goods orders."
Watch the NonFarm Payrolls Live Coverage with Valeria Bednarik and Dale Pinkert
Key Quotes
"US Jun employment report will be released a day earlier than usual due to the Independence Day holiday. The median forecast for nonfarm payrolls is 233k. The strong Jun manufacturing ISM saw the employment subindex rise sharply and ADP employment surprised to the upside, pointing to another firm NFP print."
"The jobs data is arguably the first major release over the coming weeks that will have a genuinely decisive impact on Sep Fed hike odds. We will also see May factory orders, though this will be overshadowed by payrolls. There should be limited surprise in the number given that we have already seen durable goods orders."
Watch the NonFarm Payrolls Live Coverage with Valeria Bednarik and Dale Pinkert