US: NFP to drive the markets today – ING
Robert Carnell, chief economist at ING, suggests that the US non-farm payrolls is potentially market-moving release for today’s session.
“Employment data out of the US could be unexpectedly upbeat, following a strong ADP release yesterday. As ever, wages will be the key to watch. Frankly, a strong wages number will go down with markets like a cup of cold poison, given that it will bring Fed hikes back into play, so a more market-friendly outcome will be one in which employment continues to grow, but wages growth continues its lichen-like progression and provides the Fed with the room to deliver the pause the market so clearly thinks it needs to deliver.”