It’s jobs day!
Be sure to read: June non-farm payrolls by the numbers — the headwinds are starting to blow
The market is antsy about a softening economy so I don’t think a weak report will goose risk assets the way it used to, but that remains to be seen. A strong report would likely kick off another round of bond sales and certainly lead to a rally in the dollar.
Along with the US data, we also get the Canadian jobs report and that could have a stronger impact on the FX market as the market is precisely 50/50 on a July 24 rate cut from the Bank of Canada.
This article was written by Adam Button at www.forexlive.com.
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