Traders await the Wed 8:15am ET.....>

US DATA PREVIEW: Traders await the Wed 8:15am ET ADP private payrolls and Fri

8:30am ET  Sept. jobs report. The MNI economist poll has a 73,000 median

estimate for the Sept. jobs report. 

- Deutsche Bank economists Brett Ryan and Matthew Luzzetti expect "only a 50k

gain on headline (Sept.) nonfarm payrolls (+50k private)" but still "this may be

enough to keep the unemployment rate steady at 4.4%." - They add "weather

workers series" in "Hsehld survey should provide a reasonable sense of the

magnitude of the hurricane-related disruptions to the payroll data." They cited

"considerable uncertainty" on "payroll forecast and Wed ADP survey (+50k

forecast vs. +237k previously) may provide further clues." 

- Jefferies economist Ward McCarthy expects Sept. NFP will "decline 45K, with

private sector payrolls down 25K," and "0.3% m/m increase in average hourly

earnings combined with a 2.5% YoY rise in AHE" and "a 4.5% unemployment rate." 

- He adds Sept jobs "is going to be tough to parse" due to hurricane

distortions.