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Analysts at TD Securities expect the US Non-farm payrolls to come in on the weak side at 160k (consensus: 190k), this time dampened by Hurricane Michael.

Key Quotes

“The latter should more than offset any rebound from Hurricane Florence, which contributed to the weaker September print, in our view.”

“We expect wages to lend a more upbeat tone to the report and rise 0.3% (consensus: 0.2%), taking the y/y pace to 3.2%. However we see risk for downward revisions.”

“Finally, the unemployment rate should be unchanged at its cycle low of 3.7%.”