In the US session ADP Employment Change and Unemployment Claims figures were released. Private sector employment increased by 250,000 jobs from November to December according to the December ADP National Employment Report. “We’ve seen yet another month where the labor market has shown no signs of slowing,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Throughout the year there was significant growth in services except for an overall loss of jobs in the shrinking information sector. Looking at company size, small businesses finished out 2017 on a high note adding more than double their monthly average for the past six months.”

In the week ending December 30, the advance figure for seasonally adjusted initial claims was 250,000, an increase of 3,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 245,000 to 247,000. The 4-week moving average was 241,750, an increase of 3,500 from the previous week's revised average. The previous week's average was revised up by 500 from 237,750 to 238,250. Claims taking procedures continue to be disrupted in the Virgin Islands. The claims taking process in Puerto Rico has still not returned to normal.

Tomorrow's session will bring Eurozone CPI figures. Decline to 1.4% is forecasted. In the US session NFP report and ISM Non-Manufacturing PMI figures will be published. Number of employed is expected to increase by 190,000, while Unemployment Rate should remain unchanged at 4.1%. ISM Non-Manufacturing PMI should rose to 57.6.

Figures to watch:

Non-Farm Employment Change/Unemployment Rate (Friday 14:30)

ISM Non-Manufacturing PMI (Friday 16:00)