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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.
US DATA
[correction to original post which showed the pre-revision 497k in June in the chart]
- ADP employment was notably stronger than expected in July, rising 324k (cons 190k, private payrolls cons 180k) after a downward revised 455k (initial 497k).
- Recall that last month provided a particularly large misdirection, rising 497k (or now 455k) vs private payrolls then missing with 149k.
- At least based on the latest data vintages before further revisions, the original 348k difference was the largest overshoot since Dec’20 at a time of continued post-pandemic volatility/or now since Sep’21 for the newly revised 306k overshoot.
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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