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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