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US: Keep your eyes on ADP employment and Yellen in focus today – Deutsche Bank

FXStreet (Delhi) – Darren Gibbs, Chief Economist at Deutsche Bank, suggests that the forthcoming US ADP jobs report will allow analysts to fine tune their estimates ahead of Friday’s very important employment report.

Key Quotes

“Updated estimates of Q3 labour productivity and unit labour costs will also be released. Later in the day Fed Chair Janet Yellen will deliver to the Economic Club of Washington what is sure to be a closely read speech on the economic outlook. We expect this speech will reinforce the likelihood of a Fed rate hike this month, subject to no major surprises from the economic data.”

“The Fed’s Beige Book will shed further light on the economy. Fed Governor Lael Brainard will deliver the aforementioned speech on “Lower Neutral Rate and its Implications for Monetary Policy” and the Atlanta Fed’s President Dennis Lockhart and the San Francisco Fed’s John Williams will both speak on the US economy.”

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