Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.
Today's quite a data-rich session, and there's a lot riding on the numbers in the Payrolls report, which is the first cab off the rank.
Despite the "smooting of troubled waters" attempted by the BLS yesterday with regard to the New Jobless Claims blowout, it appears that the New Jobless numbers have coloured expectations for tonights numbers.
It sounds tautological (or even oxymoronic, or maybe just moronic), but the market now expects the data to perhaps come in below expectations.
Now, don't get me started on how you can "expect" something to be below expectations... surely if that happens, it just means you've revised your expectations downwards?
| Economic Releases For January 7th | ||||
| Time | Data | Period | Consensus | Previous data |
| 8:30 a.m. | Non-Farm Payrolls | Dec-04 | 175k | 112k |
| Unemployment rate | Dec-04 | 5.4% | 5.4% | |
| Avg Hourly Earnings | Dec-04 | +0.27% | +0.1% | |
| Avg Work Week | Dec-04 | 33.8 hrs | 33.7 hrs | |
| 9:40 a.m. | ECRI Inflation | Dec-04 | -na- | 118.6 |
| 10:30 a.m. | ECRI Weekly Index | w/e 12/31 | -na- | 133.5 |
| 3:00 p.m. | Consumer Credit | Nov-04 | +$6.0 bln | +$7.7 bln |
