Nonfarm payroll report coming up from the US on Friday morning
- 830AM NY time
- 1330GMT
- The consensus median expected is up 180K
- Prior was up 156K
On Wednesday we got the ADP employment report
- Up 246,000 for private sector jobs in January (compared with expectations of +168,000)
On Thursday we got weekly unemployment claims data
- Showed an average of 248K for January, compared with 257K in December
- Other indicators from this survey point to the potential for better jobs growth in January than December
Given the ADP and unemployment claims data you'd be excused for thinking that the danger side for the January NFP is a topside surprise. Neither of these two other reports is a particularly good guide to the nonfarm payroll, but taking both together is a more reasonable basis for expecting outperformance.
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What you want to do when trading a data release like this is look a the number; beat, miss or in-line? And than look at the market (price) response.
Having said this, dunno how much focus will be on the data as opposed to awaiting snippets from the White House Tweet Monkey.