Employment in the U.S. is expected to have risen in November. According to a TD Economics research report, nonfarm payrolls are likely to have increased 175k in the month. Data on persons not at work due to bad weather imply that effects of hurricane should have waned by this month, permitting payrolls to print closer to their current trend in the 150-200k range. Moreover, the prior two months’ data is expected to be upwardly revised. In the meantime, labor market indicators continued to be supportive of strong job growth, noted TD Economics.
“We expect the unemployment rate to tick higher to 4.2 percent from 4.1 percent, given the outsized decline in labour force participation that has the potential to correct”, stated TD Economics.
Also, average hourly earnings are likely to have risen modestly by 0.2 percent sequentially, as calendar effects are less favorable this month. On a year-on-year basis, leave earnings might be at 2.6 percent.
At 20:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was highly bullish at 137.228. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
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