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US: Strong employment data – TDS

Analysts at TD Securities note that the US ADP employment series was up 202K in December, well above the 160K consensus, but caution against extrapolating the strength to the payrolls data on Friday.

Key Quotes

“The payrolls data were much weaker than the ADP data in November, and we continue to believe that risks are tilted in the opposite direction for December. (We had forecast a strong ADP reading.) Our payrolls forecast remains below consensus at 145K.”

ECB seen on hold this year – UOB

Lee Sue Ann, Economist at UOB Group, anticipates that the ECB could refrain from modifying its monetary policy conditions until the end of next year.
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EUR Futures: risks of a deeper retracement

In light of flash data for EUR futures markets from CME Group, investors added around 2.9K contracts to their open interest positions on Wednesday. In
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