US non-farm payrolls are due at 1330 GMT later today, here is what you need to know
- By the numbers: Non-farm payrolls preview for the Dec employment report
- Its Nonfarm Payroll day on Friday and never too early for a preview!
- US Nonfarm payroll data is due on Friday - here is a preview of what to expect
- Goldman Sachs preview the US December Nonfarm payroll data due Friday
As I emphasised prior to last month's report, the key data to watch out for again will be wage numbers. The average hourly earnings y/y is expected at +2.5% - similar to prior reading. As Adam mentioned in his preview above, there are rumours around saying that we will see a bit of a jump from seasonal factors - but regardless, what makes or breaks the dollar by the end of trading today ultimately will be that.
The headline NFP job print number may cause some initial movements (think HFTs), but the devil is in the details. The Fed has already closed its eye on the labour market data so the unemployment rate and non-farm payrolls aren't the biggest of things, but inflation remains the thorn in the Fed's side - so wages at this point matter more (as they did for majority of 2017).
The headline number is expected at 193k and unemployment rate is expected at 4.1%.
