US ISM and ADP employment in the limelight – TDS

By FXStreet FXStreet (Delhi) – Research Team at TDS, suggests that the US ADP employment for January gives us a preview of what to expect for the more anticipated BLS report out Friday and is expected to show a slowdown in hiring momentum.

Key Quotes

“TD looks for nonfarm payrolls to increase at a 176k pace, well below the market consensus at 193k and December’s 257k print. In addition to payrolls, we will see the non-manufacturing ISM PMI for January. TD expects a print of 55.0, slightly lower than the market consensus at 55.1 and December’s 55.3. However, we see downside risks to our forecast due to the erosion of financial conditions in recent months. Also on the calendar tomorrow are revisions to January’s Markit services and composite indices.”
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Source:: FX Street