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Ahead of todays US Employment.......>

US DATA PREVIEW
US DATA PREVIEW: Ahead of todays US Employment Report, economists at CACIB
expect the December nonfarm payrolls to show a gain of 200K jobs. They add the
250K print on the ADP private sector survey indicates some upside risks to this
number although the correlation between ADP and NFP is not necessarily reliable
and the ISM survey suggested some slowing in the pace of manufacturing job
creation. They look for the unemployment rate to remain at 4.1% but also with a
risk of a decline to 4%, consistent with the best reading in 16 years on the
labor market component of the Consumer Confidence survey. Ultimately average
hourly earnings should prove to be the most important metric. They see a 0.3%
MoM increase with a small boost from weekday calendar bias.

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