Economic figures out of the US this morning were encouraging heading in to tomorrow’s all-important Non-Farm Payroll report. The ADP Employment Change showed 176k new jobs created in June with small businesses leading the way with 53% of the total. NFP number tomorrow should beat estimates of 90k. Being that most will expect a better than forecast number tomorrow, anything less than 90k will likely create a risk rally as the implication would likely be that the Federal Reserve would initiate QE3 at their next policy decision in early August.
http://www.fx360.com/commentary/neal/8008/central-bank-triple-shot-and-nfp-expectations.aspx
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