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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.
EXECUTIVE SUMMARY
- Bloomberg consensus sees payrolls growth of 200k in July after the 209k in June was the first miss in fifteen months (when putting aside some notable negative revisions).
- AHE is seen moderating to 0.3% M/M although it doesn’t take much from an unrounded 0.36% M/M, along with no change in average hours worked.
- The unemployment rate is seen holding at 3.6% but can easily surprise lower from 3.57% with a decent share of analysts expecting such a move.
- Near-term Fed pricing has been steadfast with only modest further 9-10bps of cumulative tightening to a November terminal, against a backdrop of recent goldilocks data.
- CPI lands next week before another round of payrolls and CPI reports before the Sep 20 FOMC decision.
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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.
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