US: ADP employment and Fed speak in focus - TDS

Analysts at TDS suggest that ADP employment for July is the single economic release from the US and the market consensus is for a rebound to 190k.

Key Quotes

“This is above the 180k consensus for Friday’s payrolls report, though we would note ahead of the release that ADP has a mixed track record for predicting nonfarm payrolls. Looking past the data, we will hear from Cleveland Fed President Mester at 11:00 ET when she speaks at a community banking conference. Mester’s comments will be followed by both an audience Q&A and press conference. San Francisco Fed President Williams will deliver a speech on monetary policy at 15:30 ET but neither he nor Mester are voters in 2017.”