Ahead of today's US Non-farm........>

US DATA PREVIEW: Ahead of today's US Non-farm Payrolls data at 1230GMT, MNI's

Data Team highlight downside risks to the headline number. The median forecast

in an MNI survey shows analysts expect October nonfarm payrolls to rise by

190,000 when they are released on Friday, a larger gain than the 134,000

increase in September, with a clear risk of an overestimate. Analysts also

expect average hourly earnings to rise 0.2%, the average workweek to remain at

34.5, and the unemployment rate to hold steady at 3.7%. The report adds, based

on analysts' history, there is a downside risk to the headline value. In the

month of October, analysts have overestimated payrolls 12 times out of the last

20 years and underestimated eight times, showing a slight tendency to miss to

the high side. When they overestimate, they do so by an average of 42,750 and

when they underestimate it is by an average of 83,250. This suggests that even

though overestimates tend to be smaller than underestimates, it is more likely

that analysts will miss to the high side this month. In more recent years,

analysts have missed to the high side six out of the last 10 years. Please

contact us for further details.