US nonfarm payrolls expected to surge by 195K today – Rabobank

By FXStreet Michael Every, Head of Financial Markets at Rabobank, suggests that today is primarily about US payrolls.

Key Quotes

“The expectation there is for a rise of 195K, up from the disappointing print 151K last month, and with the headline unemployment rate staying at a cyclical low of 4.9%. Perhaps more importantly, average earnings are seen up 0.2% m-o-m after the previous brisk 0.5% reading, and so staying at an mediocre and unchanged 2.5% y-o-y.

We also get to see US trade data and Canada’s Q4 labour productivity and Ivey PMI, as well as to hear from the Fed’s Kaplan, but they are very much second fiddle to events and data elsewhere.”
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Source:: FX Street