US: ISM Non-manufacturing and ADP employment in focus - TDS

In view of analysts at TDS, ISM Non-manufacturing and ADP employment will be the key economic releases in today’s US session.

Key Quotes

“On the data front, ISM Non-manufacturing and ADP employment will give one last look at labour market conditions for June before nonfarm payrolls on Friday. The market looks for ADP private sector hiring to slow to 183k in June from 253k while the consensus has ISM non-manufacturing slightly weaker at 56.5 versus 56.9 in May. The international trade balance for May is expected by the market to improve to -$46.3bn while jobless claims should remain unchanged at  244k.”

 “Governor Powell speaks at 10:00 ET on the “Case for Housing Finance Reform” while Vice Chair Fischer will give a speech at 19:30 ET on government policy and labour productivity.”