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3 Numbers: US payrolls set for a modest rebound in ADP’s July update
A preview of Friday’s US payrolls report is on tap today with the release of ADP’s Employment Report for July. Meanwhile, the US 2-year yield is going nowhere fast as the prospects fade for another Fed rate hike in the near term while the strengthening euro complicates the outlook for adjusting monetary policy in the Eurozone. US: ADP Employment Report (1215 GMT) The stakes are a bit higher for today’s employment data after yesterday’s update that shows a weaker trend for consumer spending and personal income. The year-over-year change for personal consumption expenditures continued to decelerate in June, ... (full story)