Goldman Expects NFP to Exceed Expectations

The April jobs picture could be better than current Wall Street expectations, according to Goldman Sachs economists.

That’s despite a report Wednesday indicating that companies added the fewest jobs in three years. Private payrolls grew just 156,000 in April, well below the economist consensus of 195,000, according to payroll services firm ADP and Moody’s Analytics.

Goldman experts, however, were unswayed by the ADP disappointment. The firm expects Friday’s nonfarm payrolls report to show growth of 240,000, well above the Street expectation for 200,000 and an upward revision to Goldman’s already bullish call for 225,000.

The reason: A separate report from the Institute for Supply Management that showed gains in the employment index.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza