A snippet from UBS ahead of Friday's NFP. UBS say their
- base case remains that Fed rates have already peaked for the cycle.
But ...
- with two more consumer price inflation readings and two more monthly jobs releases before the Fed's next policy meeting in September, investor sentiment could continue to shift
With the swings we are getting in markets if scalping and/or day trading and/or swing trading is your bag then yeah, keep an eye on shifting sentiment. Tonight's numbers should prompt some good moves.
A little more from UBS:
- Ahead of the official jobs release for July, the ADP gauge of private sector employment was stronger than expected—pointing to a 324,000 increase for the month versus consensus expectations for 175,000.
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Earlier:
- July non-farm payrolls preview: ADP vs ISM edition
- US non-farm payrolls preview: "still strong demand for workers"
The data is due at 0.830 US Eastern time, 1230 GMT.
