US: Key Events ahead - Nomura

Analysts at Nomura take us through a series of economic events from the US docket lined up for release later in the NA session today.

Key Quotes:

“ADP employment report (Wednesday): In line with our forecast for the Bureau of Labor Statistics private payrolls, we expect ADP private employment to have gained 185k jobs in January (Consensus: 168k).”

“ISM manufacturing (Wednesday): The latest reading suggests that manufacturers continued to feel optimistic about current and near-term conditions in December, with the headline index marking 54.7. The incoming survey data suggest that this optimism may have continued in January. Therefore, we expect the ISM manufacturing index to have remained steady at 54.0 in January (Consensus: 55.0).”

“FOMC meeting (Wednesday): “We expect the FOMC to stand pat at this week’s meeting and for there to be only small changes to its statement after the meeting. However, we may learn more over the next several weeks. We expect more detailed fiscal proposals from the Trump administration by the end of February. Last, we may know more about FOMC discussions regarding the balance sheet.”