Quick look at market expectations for tomorrow’s NFP

Below is a quick rundown of what markets are expecting from tomorrow’s US jobs report:

• Headline NFP: 200k (prior 275k)
• Unemployment Rate: 3.9% (prior 3.9%)
• Average earnings MM: 0.3% (prior 0.1%)
• Average earnings YY: 4.1% (prior 4.3%)

It’s important to note that the employment data released throughout the week has been mostly better than expected or better than priors:

• ISM manufacturing employment index: 47.4 (prior 45.9)
• ISM services employment index: 48.5 (prior 48.0)
• ADP national employment: 184k vs 148k expected

That means that the whisper number for NFP tomorrow might be slightly higher than the 200k consensus estimate.

This article was written by Arno V Venter at www.forexlive.com.