Tomorrow has more Fedspeak scheduled

Looking ahead to tomorrow, the ADP nonfarm employment change will be announced at 8:15 AM with expectations of 148K versus 140K. The ADP data has been generally weaker than the BLS data. The last six months has a high of 164K with a low of 89K. In contrast, the non-farm payroll low was 150K while the high was 353K.

In addition, the US session will be full of fed speakers:

• Atlanta Fed Pres. Bostic is scheduled to speak on CNBC at 8:30 AM
• Fed Gov. Bowman is due to speak about bank liquidity, regulation, and the Fed’s role as lender of last resort at the Committee on Capital Markets Regulation Roundtable at 9:45 AM ET
• Fed’s Powell is due to speak at Stanford’s business, government, and society forum at 12:10 PM ET
• Fed Gov. Barr to speak about the Community Reinvestment Act at the Just Economy conference in Washington at 1:10 PM ET
• Fed Gov. Adriana Kugler is due to speak about the economic outlook and monetary policy at an event hosted by Washington University in St. Louis

In the European session, EU CPI flash estimate will be released at 5 AM ET with YoY estimate at 2.5%. The core is expected at 3.0%.

This article was written by Greg Michalowski at www.forexlive.com.