Non Farm Payroll estimate 235K. Unemployment rate estimate 5.6%
The US employment statistics will be released tomorrow at 8:30 AM ET (as long as the weather cooperates - it may be delayed a few minutes). The estimate is for nonfarm payroll to rise by 235K jobs vs. 257k last month.
The two-month revision will be eyed closely. The last time the two month revision was negative was in September 2014 (-28K). In 17 of the last 22 months the revisions have been positive. The average revision when it is higher is 49K. The average decline is -29K.
Earnings rose by +0.5% last month. A positive number will be eyed.
I think the market would look past a weaker number if weather is cited.
It always seems like we are due for a bad number. With weather potentially being an influence, it may increase those chances this month. However, I do think any selling in the dollar might be short lived. So be prepared for choppy trading.
