US: Private sector data to dominate - BBH

Analysts at BBH suggest that private sector data in the US in the form of the ADP private sector jobs estimate and the ISM/PMI service sector readings dominate the US economic reports today.  

Key Quotes

“The ADP may catch the large trend of the BLS estimate, but on a month-to-month basis, large gaps do arise.  The employment and price components of the ISM/PMI will likely garner the most attention.  Separately, the market will also get official data (the May trade balance and the DoE energy report).”

“Canada reports building permits and trade ahead of tomorrow's employment report, which will be the last important data ahead of next week BOC meeting where a 25 bp rate hike is now widely anticipated.”