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What to watch (2/2)

OUTLOOK
  • However, the big release of the day is the US employment report. consensus looks for a slight moderation in payrolls growth in January to a still stronger than sustainable pace after last month’s broadly in line outcome. Annual benchmark revisions could make the initial read more complicated, but barring large surprises we suspect focus will be on AHE, which has abated a bit in the words of Powell after its own large revisions. Primary dealer analysts have an unusually distinct skew to a hawkish surprise from both AHE growth and the unemployment rate. For our full preview click here.
  • We are also due to receive the ISM services report this afternoon.
  • In terms of scheduled speakers we have BOE's Pill give the National Agency briefing (standard following the MPR release). From the ECB we have Visco (but there may be other unscheduled appearances) and from the Fed we have Daly in an interview on Fox Business after the European sesssion has ended.

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