U.S. macro traders are watching two releases scheduled for tonight. The September ADP employment report is due at 20:15, with expectations for an increase of 70,000 jobs. Fifteen minutes later, at 20:30, the August Personal Consumption Expenditures (PCE) reading, the inflation gauge preferred by the Federal Reserve, is set for release. Core PCE is expected to hold at 3.3% on an annual basis.
The update comes after Federal Reserve official John Williams unexpectedly sent a dovish signal, which pushed market expectations for an October rate hike down to roughly even odds. According to the report cited by Odaily and attributed to Jin10, a hotter-than-expected outcome in both the ADP and PCE releases could revive bets that the Fed may still raise rates in October. The report did not provide any additional market pricing details beyond that shift in expectations.
Odaily reported that the U.S. September ADP employment report is scheduled for 20:15 tonight, with the market expecting an increase of 70,000 jobs.
At 20:30, the August Personal Consumption Expenditures (PCE) data, the inflation gauge preferred by the Federal Reserve, will follow. Core PCE is expected to remain elevated at 3.3% year over year.
The report said Federal Reserve official John Williams unexpectedly delivered a dovish signal, bringing October rate-hike expectations down to roughly even odds. If both the ADP and PCE readings come in hot tonight, bets on another rate increase could return.
The item was cited from Jin10.
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