BMO analyst Aaron Kohli said..........>

US DATA REACT: BMO analyst Aaron Kohli said September ADP "was exactly in line

with consensus of 135k" as "details showed relatively broad health with most

employers adding with the exception of very small businesses (1-19 employees)

that were seen cutting slightly. Biggest gains were for employers with 50-499

and 1000+ employees. The skew was also towards services with gains there at

nearly double those in the goods producing sector."

- He adds "relationship between the first release of ADP and NFP numbers has

weakened a bit of late" but "consensus expectations for both sport a correlation

over 0.9 in the last 3 yrs. That likely adds to the noise this Friday and it's

hard to know what to make of this specific print, vis-a-vis what it implies for

Friday's print. The on-consensus read leaves the mkt still expecting a soft NFP

due to hurricane effects with the consensus currently at 80k on the headline."