Home›Forex›Major Pairs›July US nonfarm payrolls eyed, forecast points to 80K…

July US nonfarm payrolls eyed, forecast points to 80K job gain

The BLS jobs report is set for Friday at 12:30 GMT, with unemployment expected to stay at 4.2% and annual wage growth at 3.5%.

Reported · Written up by our desk · Major Pairs

FXStreet highlighted that the US Bureau of Labor Statistics is scheduled to release the July Nonfarm Payrolls report on Friday at 12:30 GMT, a key catalyst for currency markets as traders reassess the Federal Reserve policy outlook.

Ahead of the data, investors expect Nonfarm Payrolls to rise by 80K after June’s 57K print, while the unemployment rate is forecast to hold at 4.2% and annual wage inflation, measured by the change in Average Hourly Earnings, to remain at 3.5%.

The report will show the number of new jobs created in the previous month across non-agricultural businesses, and the figures can be volatile given how sensitive payrolls can be to revisions and the overall labor market picture.

FXStreet also noted that markets often treat a stronger-than-expected result as supportive for the US dollar, while a weaker print can pressure it, with the reaction ultimately depending on how investors interpret the full set of labor data and its implications for Fed inflation-fighting and interest rate expectations.

More like this

Sources