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2 Mar 2016
US: ADP employment is the session’s feature - BBH
Research Team at BBH, suggests that the US session features the ADP private sector job estimate.
Key Quotes
“The consensus calls for a 190k increase after 205k rise in January. Note the ADP also announced their annual benchmark revisions. Later in the session, the Beige Book will be released for the FOMC meeting on March 15-16. The US government oil inventory figures will also be watched. The industry estimate out late yesterday showed a 9.9 mln barrel surge, which stopped the oil rally in its tracks. Oil prices are almost 2% lower today. The consensus estimate looks for 2.6 mln barrel build in the official projection.”
Key Quotes
“The consensus calls for a 190k increase after 205k rise in January. Note the ADP also announced their annual benchmark revisions. Later in the session, the Beige Book will be released for the FOMC meeting on March 15-16. The US government oil inventory figures will also be watched. The industry estimate out late yesterday showed a 9.9 mln barrel surge, which stopped the oil rally in its tracks. Oil prices are almost 2% lower today. The consensus estimate looks for 2.6 mln barrel build in the official projection.”