US Non-Farm Payrolls ( #NFP ) is expected to be 51K today, which, as you can see in the chart, will be within a long-term downward trend and will support interest rate cuts if the data comes in as expected.
However, what complicates things is that the November data will be released together with the October jobs data.
The BLS (Bureau of Statistics) also announced that there will be "unusually high deviations" in jobs data this month and in the following months.
This situation arises from the application of statistical weighting changes to compensate for the missing data set in October and some data collection problems experienced in November.
In short, market reactions today may be somewhat erratic.
