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Strong US labor market performance expected - TD Securities

FXStreet (Łódź) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securitiespreducts that the US NFP numbers for August, due out later today, will show strong growth of the headline number, by 238K and a 223K increase in private payrolls.

Key quotes


"We expect this 7th straight 200K+ payroll gain to continue building the case that the current labor market recovery is not a ‘false dawn.’"

"While headline payrolls will certainly remain important, we expect considerable focus to fall on the unemployment rate, which should edge lower to 6.1% from 6.2%, and wage growth, which we expect to rise 0.3% following last month’s flat print."

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