According to analysts at TD Securities, in the upcoming US session, all eyes will be on the release of US non-farm payrolls and ISM.
Key Quotes
“TD expects payrolls to mean-revert to 150k (mkt: 165k) in January following the eye-popping jump to 312k in December. We anticipate the unemployment rate to tick up to 4.0% in January on account of the government shutdown, though we see further risks to the upside. Lastly, we expect wages to keep their momentum and rise 0.3% m/m, keeping the annual print unchanged at 3.2% in January.”
“We see also downside risk for January ISM manufacturing, eyeing a further slip to 53.3 (mkt: 54.1). That would mark yet another unwelcome development for a market that is sensitive to further signals of slowing growth momentum.”
“Vehicle sales for January (17.15m expected from 17.5m) round out the calendar.”
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