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ADP National employment data for June 150K versus 160K estimate

Prior month 152K revised higher to 157Kgoods +14 Kservices it was 138Ksmall firms +5Kmedian +88Klarge companies +58Kleisure and hospitality 63Kconstruction 27Kprofessional and business services +25Ktrade and transportation/utilities +15Knatural resources/mining -8KThe median wage for job stayers came in at 4.9% YoY versus 5.0% last month. For job changers, the wages rose 7.7% versus 7.8% last month.

Note that the estimate for us non-farm payroll data on Friday at 8:30 AM ET is for 190K. The UN year average hourly earnings is expected to decline to 3.9% versus 4.1% last month.

US yields remain mixed with the shorter end higher and the longer end lower:

2-year yield 4.764%, +2.5 basis points10 year yield 4.423%, -1.2 basis points30-year yield 4.582% -2.7 basis points

S&P futures are implying a decline of -4 points. NASDAQ features are implying a decline of -16 points and the Dow Industrial Average average is implying a decline of -8.85 points.

This article was written by Greg Michalowski at www.forexlive.com.

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