U.S. Non-Farm Payrolls Scenario Analysis
All eyes will be on Non-Farm Payrolls today. It will be announced at 12:30 p.m. (GMT) and the Jobs Report is significant determinant of Fed rate hike on June 14.
The Fed has already declared its expectations to raise rates two more times this year and market has priced in odds of around 90% for a 25 basis point hike at the next Fed meeting.
The ADP Non-Farm Employment Change data was released yesterday which surprised markets with better realization than expected in May.
Non-Farm Payrolls is expected to decline to 185k from 211k a month ago and Unemployment Rate is expected to remain flat at 4.4% compared to a month ago. Average hourly earnings will be another release to be followed closely at the same time and is expected to be 0.3%, same as previous month. Any realization better than market consensus today will support DXY and US bond yields.
09 Jul 18 (Mon)
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