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MNI US Morning Briefing

MNI (London)
     LONDON (MNI) - Its a busy end to the week, with the US employment report
likely to be the stand out event.
     The US calendar gets underway at 0830ET, with the release of the latest
trade data and, more importantly, the July jobs data.
     Nonfarm payrolls are forecast to rise by 181,000 in July after a
stronger-than-expected 222,000 gain in June. The unemployment rate is expected
to fall back to 4.3% after rebounding to 4.4% in June. Hourly earnings are
forecast to rise 0.3% after a 0.2% gain in the previous month. Due to a large
0.4% rise in hourly earnings in July 2016, the year/year gain for July 2017 is
likely to be trimmed. The average workweek is expected to hold steady at 34.5.
     The international trade gap is expected to narrow to $44.1 billion in June.
The advance estimate of the Census goods trade gap narrowed to $63.9 billion in
June, with exports up 1.4% and imports down 0.4%.
     At the same time, north of the border, the Canadian International
Merchandise Trade and Labour Force Survey data will be published.
     Then, at 1000ET, the Canadian Ivey PMI numbers will cross the wires.
     The St. Louis Fed Real GDP Nowcast is expected at 1100ET, with the NY Fed
GDP Nowcast expected at 1115ET.
     Late data sees the release of the latest US Treasury STRIPS at 1500ET.
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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