Philadelphia Fed

The key economic releases this week are retail sales on Wednesday and CPI on Thursday. The key market-moving event will be the December FOMC statement released on Wednesday at 2PM. In addition, there is one scheduled speaking engagement by Richmond Fed President Lacker on Friday.

In less than an hour, the BLS will report the latest, May, non-farm payrolls and unemployment data. Here is what consensus expects:

• US Change in Nonfarm Payrolls (May) M/M Exp. 160K (Low 90K, High 215K, Prey. 160K, March. 208K)
• US Unemployment Rate (May) M/M Exp. 4.9% (Low 4.9%, High 5.1%, Prey. 5.0%, March. 5.0%)
• US Average Hourly Earnings (May) M/M Exp. 0.2% (Low 0.1%, High 0.4%, Prey. 0.3%, March. 0.2%)

The NFP breakdown by bank is as follows: