All eyes are on the market-moving Nonfarm Payrolls (NFP) data for October, to be released by the United States Bureau of Labor Statistics (BLS) on Friday at 12:30 GMT.
US Nonfarm Payrolls are expected to rise by 113K in October after September’s stellar gain of 254K. The United States Bureau of Labor Statistics will release the labor data on Friday at 12:30 GMT. The US Dollar’s fate and the Fed’s future interest rate cuts hinge on the US jobs data. All eyes are on the market-moving Nonfarm Payrolls data for October, to be released by the United States Bureau of Labor Statistics on Friday at 12:30 GMT.
The Automatic Data Processing announced on Wednesday that employment in the US private sector increased by 233,000 jobs for October, accelerating from the upwardly revised 159,000 in September and better than the market estimate of 115,000. Even though these figures aren’t always correlated with the official NFP numbers, the strong ADP jobs report eased concerns about the health of the US labor market, leaving room for an upside surprise in Friday’s payrolls data.
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