2 Jul 2015
US NFP expected at 220K – BAML
FXStreet (Barcelona) - The BofA-Merrill Lynch Team forecasts the US nonfarm payrolls release today to see a 220K print, with consensus expectations at 228K.
Key Quotes
“The US employment report-to be released today due to Friday's holiday-is likely to show another solid month of job creation in June with job growth of 220k (market consensus 228k), according to our US economics teams. Though a slowdown from the 280k pace in May, it is consistent with the recent trend.”
“In normal times, positive surprises on nonfarm payroll growth lead to higher equity prices, as they signal stronger growth. But over the last few years the effect of positive payroll surprises has been more ambiguous as they may also lead the Federal Reserve to hike its benchmark policy rate sooner than expected.”
Key Quotes
“The US employment report-to be released today due to Friday's holiday-is likely to show another solid month of job creation in June with job growth of 220k (market consensus 228k), according to our US economics teams. Though a slowdown from the 280k pace in May, it is consistent with the recent trend.”
“In normal times, positive surprises on nonfarm payroll growth lead to higher equity prices, as they signal stronger growth. But over the last few years the effect of positive payroll surprises has been more ambiguous as they may also lead the Federal Reserve to hike its benchmark policy rate sooner than expected.”