Uncontrolled jobs in the USA: The market expects 110,000 jobs as a key test for the Federal Reserve's rate cut forecast.
The anticipated report on uncontrolled jobs in the USA (NFP) is seen as the definitive indicator of the week for financial markets, with consensus estimates forecasting the addition of 110,000 jobs in July, according to Jinshi Data.
The release follows PCE inflation data earlier this week, which largely aligned with the Federal Reserve's forecasts regarding price pressures. However, analysts warn that if job growth exceeds expectations, it could diminish or even erase hopes for a rate cut in September.
Rates are high: the NFP report is likely to influence the trajectory of the US dollar and reverberate through stocks, bonds, and cryptocurrencies as traders adjust their expectations regarding Federal Reserve policy.
Markets will closely monitor not only the overall job figure but also data on wage growth and unemployment rates, which may provide additional signals on whether the Federal Reserve will maintain its current position or consider easing policy later this year.