FXStreet (Edinburgh) – Senior Analyst at Danske Bank Jens Pedersen noted the relevance of today’s releases across the pond.
Key Quotes
“Today focus will be on the US ADP employment index. Consensus is for an increase in ADP employment growth of 200,000 in August, up from 185,000 in July. The index will be scrutinised ahead of non-farm payrolls due for release on Friday but it is not necessarily an accurate leading indicator”.
“US factory orders are also due for release and consensus is for an increase of 0.9% m/m, which is overall in line with the solid durable goods orders. If on the other hand factory orders surprise on the downside, it is likely to increase concerns about the US manufacturing sector following yesterday’s decline in manufacturing ISM”.
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