Market Weekly: July 31-Aug-04-2017


Consensus for non-farm payrolls is +180K neds to miss +/- 50K as it’s all about wages this time.

Average hourly earnings forecast to rise 0.3% m/m and 2.4% y/y. Estimates range from +0.1% to +0.4% m/m with average weekly hours, which is forecast to be steady at 34.5 hours.

The unemployment rate is forecast to dip to 4.3% from 4.4% with participation at 62.8% last month.