US: Focus on ADP employment – Danske Bank

In the US, ADP employment is due for release ahead of the employment report on Friday and will be a key economic release for today’s session, according to analysts at Danske Bank.

Key Quotes

“The latest ADP report showed job growth of 178,000 while the employment report had stronger growth of 209,000. That said, main focus is on the unemployment rate and particularly wage growth as these are more important for the Fed. The second GDP estimate for Q2 is also due for release but we expect no significant revisions in the figure.”