Traders have one more milestone to surpass this week that is, the US monthly employment report, to be release this Friday. The country is expected to have added 183K new jobs in July, after June's positive surprise of 222K. The 4.4% unemployment rate is still expected to drop to 4.3%, while average hourly earnings are expected to be up 0.3% monthly basis, and by 2.4% on the annualized figure, this last, slightly below previous 2.5%.
There's has been long since the US Nonfarm Payroll report triggered interesting market movements, except in the case of big disappointments, quite logical given the ongoing distrust in dollar's future. And that will be the case for this Friday: the NFP report will only be relevant if it's a big miss.
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