ADP figures, FOMC minutes to be closely watched

April 5, 2017

A busy night for markets with plenty of data to be released, with the most important once again coming out of the US.

Later tonight, the US is releasing a few pieces of data. This includes: ADP Non-Farm Employment Change, Final Services PMI, ISM Non-Manufacturing PMI and Crude Oil Inventories. The most eagerly watched figure for the night is the ADP employment data. As a large payroll services provider for US corporations, ADP analyses its data to provide employment related estimations. The ADP figure is released two days before the official government employment data, so it gives markets a good indication of the state of the jobs market, particularly since both the ADP and Government figures generally trend in the same direction. The Fed Reserve is also releasing the minutes from its last interest rate meeting. Although the decision has already been made, it will be keenly looked upon for any clues as to the direction of interest rates in the future.

Elsewhere around the world, Europe is publishing Italian & Spanish Services PMI’s and European, German & French Final Services PMI’s. The UK is reporting Services PMI data while MPC Member, Gertjan Vlieghe, is due to speak.