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3 Jun 2015
US ADP employment expected to tick up – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team shares the expectations surrounding US data releases – ADP employment, non-manufacturing ISM, Beige Book and Fed’s 2015 growth forecast later in this month.
Key Quotes
“The market generally looks for constructive news. This should include a smaller trade deficit (consensus for $44.0 bln down from $51.4 bln in March) and a tick up in the ADP employment estimate (200k after 169k in April).”
“The service sector ISM may be the exception, and it is expected to slip to 57.0 from 57.8. Later, the Fed’s Beige Book will be released. Note that the OECD cut its US growth forecast to 2% from the 3.1% estimate in March. We expect the Fed to cut is central tendency forecast of 2015 growth from 2.5% (2.3%-2.7%) to 2% when it meets later this month.”
Key Quotes
“The market generally looks for constructive news. This should include a smaller trade deficit (consensus for $44.0 bln down from $51.4 bln in March) and a tick up in the ADP employment estimate (200k after 169k in April).”
“The service sector ISM may be the exception, and it is expected to slip to 57.0 from 57.8. Later, the Fed’s Beige Book will be released. Note that the OECD cut its US growth forecast to 2% from the 3.1% estimate in March. We expect the Fed to cut is central tendency forecast of 2015 growth from 2.5% (2.3%-2.7%) to 2% when it meets later this month.”