Earnings and Jobs Data Eyed as Week Draws to Close

Markets will be setting up for Friday’s jobs report Thursday as investors await another batch of earnings reports, including Amazon.com.

Traders are looking for a stronger than currently forecast showing for January employment, after ADP Wednesday reported a stunning 246,000 private sector payrolls for January. Economists currently expect 175,000 payrolls in the government report, but that number could rise ahead of the Friday report.

Bond traders were disappointed Wednesday, after the Fed put out a rather neutral postmeeting statement, leaving the door open for hikes this year but with no sense of timing. Some had expected the Fed to upgrade the economy and make such hawkish statements that the March meeting would come into play, for the next rate hike. The market currently expects the next hike in June and gives about 20 percent odds to a March hike.

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.