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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.
US DATA
- ADP employment growth was softer than expected in July at 122k (cons 150k) after a modestly upward revised 155k in June (initial 150k).
- We’d be surprised if there were any meaningful changes to estimates for Friday’s private payrolls, with consensus currently at 141k.
- ADP’s Chief Economist: “With wage growth abating, the labor market is playing along with the Federal Reserve's effort to slow inflation. If inflation goes back up, it won't be because of labor."
- Arguably of more note, job stayer pay gains slowed a tenth to 4.8% Y/Y in July, “the slowest pace of growth in three years” whilst job-changers “saw a big drop” from 7.7% to 7.2% Y/Y for the slowest since May 2021.
Source: ADP
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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