Traders see April payrolls up 88,800 in auction
Thu May 3, 2007 8:19AM EDTNEW YORK, May 3
Source Reuters
(Reuters) - Traders were betting on Thursday that U.S. employers added 88,800 jobs in April, according to the preliminary implied median market forecast of a derivatives auction.
The result was below the 96,100 jobs implied in an auction on Wednesday and compared with the median forecast of economists in a Reuters poll for a 100,000 rise in April.
The U.S. Labor Department will issue the April non-farm payroll report on Friday at 8:30 a.m. (1230 GMT).
Investors use the auctions to hedge against surprises in the report, and traders also use the auctions to speculate on the outcome.
Thu May 3, 2007 8:19AM EDTNEW YORK, May 3
Source Reuters
(Reuters) - Traders were betting on Thursday that U.S. employers added 88,800 jobs in April, according to the preliminary implied median market forecast of a derivatives auction.
The result was below the 96,100 jobs implied in an auction on Wednesday and compared with the median forecast of economists in a Reuters poll for a 100,000 rise in April.
The U.S. Labor Department will issue the April non-farm payroll report on Friday at 8:30 a.m. (1230 GMT).
Investors use the auctions to hedge against surprises in the report, and traders also use the auctions to speculate on the outcome.