US: ADP employment and ISM Non-manufacturing in focus - TDS

Analysts at TDS suggests that the ISM Non-manufacturing and ADP employment data will be in the limelight for today’s US session.

Key Quotes

“The ISM Non-manufacturing Index is expected to pare gains in December, with TD calling for the index to edge lower from 57.2 to 56.6 while the market looks for a more modest dip to 56.8.”

“Meanwhile, ADP employment, in addition to the employment sub-index for the ISM survey, will provide a final glimpse into labour market conditions ahead of the nonfarm payrolls report on Friday. TD is above-consensus for ADP and looks for private payrolls to increase by 180k in December while the market expects a 175k print. Initial jobless claims are last release of note and are expected to edge lower from their pre-holiday peak. The market is looking for claims to fall from 265k to 260k while TD looks for a more substantial decline to 255k.”