5 Aug 2015
ADP report and ISM in the limelight in US – Danske Bank
FXStreet (Edinburgh) -Senior Analyst at Danske Bank Morten Helt noted the importance of today’s releases in the US calendar.
Key Quotes
“US ADP employment is released ahead of the import labour market report on Friday. Consensus is for ADP employment growth of 215,000 in July, which is a bit lower than the strong reading of 237,000 in June. The forecast for July is in line with our expectation for non-farm payrolls on Friday but ADP employment growth is not necessarily an accurate leading indicator”.
“ISM non-manufacturing is also due for release in the US and is expected to have increased slightly. The service sector has been less affected by the headwind from the stronger effective exchange rate and the ISM non-manufacturing has stayed higher”.
Key Quotes
“US ADP employment is released ahead of the import labour market report on Friday. Consensus is for ADP employment growth of 215,000 in July, which is a bit lower than the strong reading of 237,000 in June. The forecast for July is in line with our expectation for non-farm payrolls on Friday but ADP employment growth is not necessarily an accurate leading indicator”.
“ISM non-manufacturing is also due for release in the US and is expected to have increased slightly. The service sector has been less affected by the headwind from the stronger effective exchange rate and the ISM non-manufacturing has stayed higher”.