Look beyond ordinary analysis
Next week, many relevant economic reports will be released in the US, among them, the most important will the official employment data. Analysts from Danske Bank, estimate non-farm payrolls increased by 170K, in line with market consensus.
“The October report was strong with declines in both the unemployment and underemployment rates to 4.9% and 9.5%, respectively (from 5.0% and 9.7%) and acceleration of wage growth to 2.8% y/y (from 2.7% y/y). In our view, this is sufficient ‘further evidence’ for the FOMC to raise rates in December, which is now also fully priced in by markets.”
“In November, we estimate non-farm payrolls increased by 170,000 in line with recent trends and estimate an unchanged unemployment rate at 4.9%. We expect average hourly earnings increased 0.2% m/m implying an unchanged wage growth rate of 2.8% y/y.”
Source: Fx News
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