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What to expect from a rather busy week from the U.S?
A rather busy week from the U.S. will see the headlines being dominated by the monthly payrolls and manufacturing activity reports for August.
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The data comes ahead of the next big Fed decision over the course of the next few weeks.
With the Federal Reserve poised to hike interest rates, investors will be closely watching the economic data over the week.
The employment figures will be one of the key metrics that investors will be looking into this week.
The private payrolls firm, ADP will be releasing the monthly private payroll figures. The median forecasts point to a 190k headline print for August.
This marks a somewhat slower pace of job gains compared to the month before.
The official payrolls report will be due out on Friday. The U.S. unemployment rate is expected to fall to 3.8% from 3.9% previously.
The number of jobs added during the month of August is expected to show 192k. This marks a somewhat modestly higher headline print in the payrolls report.
The average hourly earnings are forecast to rise 0.3%. This marks a steady pace of increase in payrolls on a month over month basis.
The manufacturing and non-manufacturing activity reports are also due over the week.
The ISM’s indexes are expected to show manufacturing activity to rise to 57.4 while nonmanufacturing activity is forecast to rise to 56.8
