Non-farm employment data to be released soon, market expects strong performance👋
Today is NFP Friday, and the market is likely bracing for an upside surprise to the 200k median headline estimate, given the strength of high-velocity labour data, as well as positive employment surprises from alternate, big-data based sources. Furthermore,a big focus will be placed on the Average Hourly Earnings (AHE) number, where an unwelcome rebound (like what we saw from ISM Services) might force the FOMC back in play during Q4, with the futures market currently only pricing a 20% chance of a final hike before year-end.
