To finish off a jam-packed week, markets will be watching Friday’s monthly US labour market report.
Here are 5 things to note:
- The economy is still adding jobs, albeit in relatively modest numbers
- The so-called ‘breakeven’ rate of job growth that maintains a reasonably stable unemployment rate has moved lower due to tighter immigration policy
- Seasonal adjustments could dampen growth in payrolls in this report
- Back-to-back weather effects on May and June data could see a bounceback in July
- USD is looking to continue its base building, with support at the 50-day SMA