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NFP PREVIEW: WILL WE GET A SUB-100K HEADLINE?

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

 

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