The jobs report is due at the bottom of the hour
It's Groundhog Day but more importantly, it's non-farm payrolls Friday with the first report of 2018 due at the bottom of the hour.
The consensus is for a 180K print but ADP has been stronger for the past two months. The unemployment rate is forecast to remain steady at 4.1%. It seems to me there is a bit more emphasis and agitation on the headlines than for the past few months, if only because the political temperature is high.
That said, this report is still all about wages and what drives the market reaction will be average hourly earnings. The consensus is a +0.2% m/m and +2.6% y/y reading with weekly hours at 34.5.
Good luck. No matter what happens, it's tough to envision an abrupt end to US dollar weakness.
Here's Ian Shepherdson on average hourly earnings:
