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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.
MNI US Payrolls Preview: Markets Unprepared For A Miss
MNI US Payrolls Preview: Markets Unprepared For A Miss
EXECUTIVE SUMMARY:
- Consensus sees U.S. nonfarm payrolls growth moderating to 300k in August after the surprise acceleration to 528k in July in a resumption of a downward trend after four remarkably steady months.
- There is again focus on the strength and breadth of jobs growth plus any difference between establishment and household surveys, with FOMC speakers putting weight on jobs growth strength as evidence against the economy already being in recession (an argument supported by strength of GDI vs GDP in 1H22).
- Also watch for a potential beat for the unemployment rate on rounding after last month’s 3.46%, a joint fifty-year low.
- Market moves leading into the release suggest the market is relatively unprepared for a “miss”.
For full analysis:
Source: MNI
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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