US: NFP likely to trend modestly lower to 170k in April - TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities are looking for the US payrolls to trend modestly lower to 170k in April, following the near-200k print in the previous month.

Key Quotes

“In particular, while we expect a minor rebound in manufacturing jobs following two disappointing payroll prints, this is likely to be more than offset by a deceleration back to trend in job creation in the services sector, following a stronger-than-expected bump in March. That said, the blowout ADP employment report creates upside risks for another stronger-than-expected pace of service sector job creation in April.”

“All in, the household survey should show the unemployment rate ticked down a tenth to 3.7%, while wages are expected to rise 0.2% m/m. This should leave the annual print unchanged at 3.2%.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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