USD: ADP employment data and trade balance in focus - TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, suggests that the market’s attention will shift back to economic data as the October ADP employment report is expected to rebound 185k (market at 180k), likely helping to lift market pricing for a December rate hike (market currently pricing in 54% odds).

    Key Quotes

    “The September trade balance will also be closely watched and is expected to retrace recent widening, narrowing to -$41.8bn. Markets will also keep a close eye on the service sector ISM report, which should moderate only slightly to 55.8 from 56.9 as the market pays particular attention to the employment sub-component.”

    “Despite a plethora of Fed speakers on the docket (including Brainard, Harker, Yellen, Dudley, and Fischer), only Vice-Chair Fischer will make remarks on monetary policy, which will come after the market close. Treasury’s refunding announcement will also be in focus, and we expect no changes to coupon auction sizes even as Treasury continues its bill issuance ramp-up following the lifting of debt ceiling constraints.”
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