U.S.ADP non-farm employment added 182k jobs in sep, the weakest addition in three-months, compared with 190k job addition in previous month. However, market had expected a gain of 183k jobs.
Cruxof FOMC Meeting (Oct 27-28,2015)
Key takeaway…Slowing growthoutside US put US Fed to delay policy firming but bigwigs still see a rate hikein December meeting…Well, we still believe they will not hike in December meeting aswell, as nothing has changed in their statement except inculcation of term“solid” for household spending & business fixed investment and, slowingemployment growth since last meeting. No doubt that Fed funds rate futuresprobability for December got improved to 43% post announcement from 34% priorto the statement. Well, payroll number for October and November will give somelight to the hot topic.
1.Economic activityhas been expanding moderately since FOMC met in September.
2.Thelabor market:paceof employment has slowed and unemployment rate held steady near recent lows.