FXStreet (Delhi) – Annette Beacher, Chief Asia-Pac Macro Strategist at TD Securities, suggest that the US Nonfarm payrolls are likely to post a growth of +219k in September which is above market consensus of +201k (range +149k to +256k) due to a solid improvement in the Conference Board labour market differential, a rebound in the Chicago PMI employment subcomponent, and an improving trend in initial jobless claims.
Key Quotes
“In addition to the headline gain, we expect positive historical revisions of between +15k and +25k, consistent with historical revisions for August.”
“The unemployment rate is expected to remain unchanged at 5.1% as the increase in hiring is met by an increase in the labour force. From the Fed we hear from both Bullard (voting hawk in 2016) at 1230 ET and Fischer (voting centrist) at 1330 ET discussing monetary policy.”
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