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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
DATA REACT
The June ADP private sector employment report beat expectations with 692k jobs added, vs 600k expected - though the downward revision to May (+886k from +978k) basically offset the beat. Markets saw little reaction.
- Service-sector jobs provided the bulk of the gains, with +624k jobs added, and within that +332k leisure/hospitality jobs - further confirming the recovery amid reopenings. Small-, medium- and large businesses contributed more or less equally to the headline figure.
- Even if we took the ADP figures at face value, they are an indicator of private sector employment and don't tell us much about public sector hiring, which is expected by many analysts to provide an outsized boost to the June nonfarm payrolls figure released this Friday (namely those who are expecting an above-consensus figure vs +700k survey).
Source: ADP
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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