Morning, Traders!
Happy Friday! It is the 5th of January, and today we see the release of the much-anticipated US Nonfarm Payrolls report.
Here are some things to look out for today.
Sentiment
Treasuries extended losses, on track for the biggest weekly drop since October, fueled by speculation that the Federal Reserve's interest-rate cuts may be delayed due to a resilient labor market.
For the sixth day in a row, stocks fell and the dollar strengthened.
Traders are anticipating the release of the US nonfarm payroll report, which is expected to show that employers added 175,000 jobs in the previous month.
While this is a slower rate of hiring than in November, it reflects economic strength and adds to evidence that bets on easier monetary policy have gone too far.
For a designated Nonfarm Payrolls & Unemployment Rate prep article, Click Here
Docket
08:30 ET
US Employment Data for December
Nonfarm Payrolls - Median Forecast: 175K | Prior: 199K | Range: 235K / 80K
Unemployment Rate - Median Forecast: 3.8% | Prior: 3,7% | Range: 3.9% / 3.6%
US Average Earnings YoY - Median Forecast: 3.9% | Prior: 4% | Range: 4% / 3.8%
Canadian Employment Data for December
Employment Change - Median Forecast: 15K | Prior: 24.9K | Range: 28.3K / -10K
Unemployment Rate - Median Forecast: 5.9% | Prior: 5.8% | Range: 6% / 5.8%
10:00 ET
US ISM Services PMI for December
Median Forecast: 52.5 | Prior: 52.7 | Range: 54 / 50.7
US Factory Orders MoM for November
Median Forecast: 2.4% | Prior: -3.6% | Range: 5.4% / 0.8%
Speakers
13:30 ET
Fed's Barkin speaks to the Maryland Bankers Association.
Text: Yes.
Q&A: Yes, with audience and media.
Good Luck!
