US: Focus on ADP employment and ISM non-manufacturing – TDS

Analysts at TD Securities suggest that for the US ADP employment, the consensus is expecting +185k, less than the robust 275k jump in April.

Key Quotes

“Separately, the ISM non-manufacturing index is expected to remain largely unchanged at a still solid 55.4 level in May — still its lowest level since 2017. Recall the ISM manufacturing index surprised to the downside earlier in the week, printing 52.1 for May.”