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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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EXECUTIVE SUMMARY
- Bloomberg consensus sees nonfarm payrolls growth of 186k in November, up from the 150k in October owing to a 38k fewer striking workers meaning strike adjusted gains should trend lower.
- AHE is seen accelerating a tenth from the 0.2% M/M in October, but elsewhere consensus mostly looks for a consolidation of October’s softening.
- That includes an unemployment rate of 3.9% which would see greater likelihood of the FOMC raising its near-term unemployment forecast next week, although there is a mild analyst skew to a lower rate.
- We expect large sensitivity to surprises in either direction but perhaps asymmetrical risk of a stronger report which sees markets question whether the five cuts priced for 2024 is excessive, at least for now.
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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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