US NFP report to remind markets that growth outlook remains stable - Nomura

Dhwani Mehta FXStreet

Analysts at Nomura offer a sneak peek at what to expect from the December US labor market report due later on Friday at 1330 GMT.

Key Quotes:

“Indicators of labor demand remain strong but beware of weather effects in coming months.

NFP Forecast 200k.

Employment components of the latest regional surveys and initial claims data suggest labor demand remains strong.

With temperatures returning to a normal seasonal range, construction employment likely rebounded.

We expect some payback from a softer-than-expected 155k NFP gain in November.

We expect 0.3% m/m and 3.0% y/y average hourly earnings

Unemployment rate at 3.6%.

Altogether, we expect the December employment report to remind markets that the US growth outlook remains stable despite financial market volatility.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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