The ADP number came in super-strong in data from the US on Thursday:
Goldman Sachs shrugged it off:
- We suspect a distortion in the ADP seasonal factors contributed to
the strength, as ADP employment growth had picked up in June in 6 of
the last 7 years - We left our nonfarm payroll forecast unchanged at
an above-consensus +250k
JP Morgan, though, are wary:
- ADP has generally not tracked BLS private nonfarm payrolls that well
over time - but today’s report does hint at some potential upside
risk to our call for a 165,000 gain in private payrolls (200,000
headline).
the data is due at 8.30 am US Eastern time:
This
snapshot from the ForexLive economic data calendar, access
it here.
-
The
times in the left-most column are GMT. -
The
numbers in the right-most column are the ‘prior’ (previous
month/quarter as the case may be) result. The number in the column
next to that, where there is a number, is the consensus median
expected.