US employment data key to today’s action

The closely watched June U.S. non-farm payrolls employment data will be released at 1.30 pm UK time, with expectations that the economy will add 100,000 jobs.

The data disappointed markets when it missed estimates in April (+77,000 jobs) and in May (+69,000 jobs), sending the global stock indices down signficantly over the following days.

Yesterday, the private sector ADP employment data showed a rise of 176,000 jobs, better than expected and increasing the chance of a good result today.

After yesterday’s weak markets on worries about China and European growth, expect a subdued morning and then plenty of action at the US open.

Contrarian Investor UK