Scotiabank provides a daily market analysis focused on the upcoming US nonfarm payrolls report, with a house call of 90k. The report also highlights Fed Chair Warsh's dovish rhetoric and ongoing challenges in US gasoline pricing.
Key Takeaways
- 1.Scotiabank expects nonfarm payrolls for June to be 90k, significantly below consensus.
- 2.Federal Reserve Chair Warsh's comments on declining inflation risks reduced near-term hike pricing.
- 3.US gasoline prices are struggling to fall despite administration pressure due to low stocks and high refinery capacity utilization.
Table of Contents
- On Deck for Thursday, July 2nd
- KEY POINTS:
- NONFARM PAYROLLS — SHOWTIME!
- WARSH TAMPS DOWN HIKE PRICING
- US ADP DISAPPOINTED
- US CHALLENGER LAYOFFS DIP IN SEASONALLY NORMAL FASHION
- ISM-MANUFACTURING SIGNALS LITTLE CHANGE IN SECTOR GROWTH
- US VEHICLE SALES LANDED HIGHER
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Authors
Derek Holt
Securities
WTI Crude
Themes
Data DependenceMonetary Policy Normalization
Regions
North AmericaAsia PacificEuropeUnited StatesCanadaGermany