Today we have the release of the Non-farm payroll data for May. Many expect today’s event to be a solid but less dramatic increase in job creation when compared with April’s result. It is expected that the U.S economy will continue to gather momentum into the second quarter and the markets are looking for evidence of that in today’s result.
U.S. Non-Farm Payrolls @ 12:30 GMT
- The forecast today stands at 214,000 new jobs compared with 288,000 in April; the median prediction from economists is for at least a 200,000 gain.
- ADP private payrolls report showed that 179,000 new jobs were added last month, missing the forecasted figure of 217,000.
- ISM PMI services index which showed the fastest rate of growth for the services sector since March 2012.The figure came in at 56.3 from 55.6.
- The services sector also added employees at the fastest rate since January.
- Jobless claims 4 week moving average hits lowest level since March 2007.
- Banc de Binary analysts predict that there will be a modest but concrete rise in jobs created indicating a potential upward movement in the USD/JPY.