Well we had the ADP employment numbers yesterday–forecast was for 299,000 with actual coming in at 128,000. Of course no one pays much attention to the ADP numbers.
Today we have the ‘official’ government numbers which calls for the creation of 328,000 jobs which is down about 100,000 from last month.
With interest rates hanging in there at around 2.91% we could well see movement if employment is substantially off forecast–say 100,000 or more either way–but likely it will be a non event. We shall see!!