2 Jul 2014
US ADP employment and Yellen's speech in focus ahead of NFP release - TD Securities
FXStreet (Łódź) - Jacqui Douglas, Senior Global Strategist at TD Securities suggests that market attention will be focused today on the US ADP employment data and Fed head Janet Yellen's speech, ahead of the US NFP report publication on Thursday.
Key quotes
"We look for the ADP survey to outperform our 199K expected nonfarm payroll gain, rising 215K in June and trimming some of its recent payroll underperformance."
"Markets will undoubtedly pay close attention to remarks from Yellen, though with Yellen scheduled to speak on financial stability, we suspect that the Fed Chair may be reluctant to provide any meaningful monetary policy hints."
"May factory orders data should play second fiddle during the day, though we expect a 0.2% decline in orders to have GDP implications, potentially drawing some market attention. "
Key quotes
"We look for the ADP survey to outperform our 199K expected nonfarm payroll gain, rising 215K in June and trimming some of its recent payroll underperformance."
"Markets will undoubtedly pay close attention to remarks from Yellen, though with Yellen scheduled to speak on financial stability, we suspect that the Fed Chair may be reluctant to provide any meaningful monetary policy hints."
"May factory orders data should play second fiddle during the day, though we expect a 0.2% decline in orders to have GDP implications, potentially drawing some market attention. "