The US nonfarm payroll report is due Friday at 1330 GMT

Via TD Securities (bolding mine)

We expect nonfarm payrolls to advance by a respectable 175k

  • unemployment rate to slip to 4.0%

But markets will likely focus more on average hourly earnings, which we expect to disappoint despite minimum wage hikes and bonus increases.

We also expect the Q4 ECI to rise on trend (0.6%) and see limited scope for an upside surprise.

(ECI is Employment Cost Index)

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Earlier:

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