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    What to watch for today

    There are some imporant macroeconomic publications that will have an impact on financial markets. The most important will be ADP employment report from the U.S. that may set a tone ahead of the NFP due tomorrow:

    • Investors may get some clues to Friday’s nonfarm payrolls report when Thursday’s ADP National Employment report and weekly jobless claims come out. The private ADP payrolls report is expected to show the addition of 160,000 jobs in June, according to a Bloomberg poll. However, the ADP report does not necessarily foreshadow the nonfarm payrolls data: The May ADP data showed 173,000 jobs, while the government’s report was a disappointing 38,000.

    • Investors await data on U.S. crude inventories, delayed due to Monday’s Independence Day holiday. They forecast a 2.5-million-barrel draw in crude stocks and a 1.2-million-barrel fall in gasoline inventories. However, API report from yesterday influenced their expectations and it’s likely that the market awaits a larger drowdown of inventories. 

    • In other news, Ivey PMI from Canada and Industrial Production from UK may influence trading. 


    Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.

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