NFP Data In Focus
It’s U.S. Nonfarm payrolls day today.
Today’s monthly jobs report is currently forecast to show the US added 265,000 payrolls in June, the fewest jobs in over a year. The unemployment rate is expected to hold at 3.6%, near its lowest level in decades. While June’s small jobs gain might be a natural slowdown, a number of less than 100k jobs would be a concern. However, even if data surprise to the upside, it is unlikely that the NFP report unleashes a long-lasting bullish reaction in the light of growing certainty of a recession.
Payrolls are due for release at 12:30 UTC.
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