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US: Jam packed session with ADP and Yellen in focus – TDS

FXStreet (Delhi) – Research Team at TDS, suggests that today’s US session is jam packed with plenty of economic releases and speeches from the Fed members which will keep investors occupied.

Key Quotes

“The Fed’s calendar is full, with remarks by Lockhart (8:10am), Yellen (8:30am and again at 12:25pm), Tarullo (9:00am), and Williams (3:40pm) all on the docket.”

“The latest edition of the Fed’s Beige Book (2:00pm) will also be released.”

“The market is expected to pay close attention to Yellen’s 12:45pm remarks to the Economic Club of DC as investors benchmark the prospect for a December liftoff in rates. TD’s expectation is for Yellen to remain non-committal on a December hike, reiterating the data-dependency of any policy action. However, she is likely to emphasize the expected “gradual” pace of tightening.”

“Beyond the Fed, the November ADP employment report will provide the highlight for the economic calendar as the market tries to gauge the tone of the labor market ahead of the crucial payrolls report on Friday. TD’s above-consensus expectation is for the ADP estimate to rebound to 205K from 182K. The market consensus is for a more modest rise to 190K. The market is also likely to take some direction from the Q3 productivity report. TD’s on-consensus call is for productivity to be revised to 2.2% from 1.6%.”

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