FXStreet (Edinburgh) – Senior Analyst at Danske Bank, noted the relevance of today’s print in the US labour market.
Key Quotes
“Today all eyes will be on the US labour market report for July. We expect nonfarm payrolls to increase by 210,000”.
“This is slightly below the past three-month job growth of just above 220,000 but in our view still at a pace that will move the core of the FOMC in favour of a rate hike at the next Fed meeting in September”.
“We expect the unemployment rate to remain unchanged at 5.3%”.
“Focus will also be on average hourly earnings, which were flat on the month in June resulting in a decline in annual wage growth to only 2.0% compared to 2.3% in May”.
“We expect average hourly earnings to increase by 0.2% m/m in July as the labour market continues to tighten”.
(Market News Provided by FXstreet)