4 Jun 2014
ISM and ADP report in the limelight in the US docket – Danske Bank
FXStreet (Edinburgh) - Chief Analyst at Danske Bank Lars Christensen remarks the relevant US releases due today.
Key Quotes
“We expect the US ISM non-manufacturing index to decline to 54.5 after it was stronger than expected in April. Last month new orders rose and the index provided evidence of a rebound in Q2. This followed although the employment component fell, as it tends to lag orders”.
“The US ADP employment is also released ahead of the non-farm payrolls due on Friday”.
“Consensus is for a slightly smaller increase of 210,000 in May compared to 220,000 in April, which should likely reflect the recent slowdown in growth. Fed publishes the Beige book tonight”.
Key Quotes
“We expect the US ISM non-manufacturing index to decline to 54.5 after it was stronger than expected in April. Last month new orders rose and the index provided evidence of a rebound in Q2. This followed although the employment component fell, as it tends to lag orders”.
“The US ADP employment is also released ahead of the non-farm payrolls due on Friday”.
“Consensus is for a slightly smaller increase of 210,000 in May compared to 220,000 in April, which should likely reflect the recent slowdown in growth. Fed publishes the Beige book tonight”.