That means we are likely in for a dull session in European morning trade, as per usual. Major currencies are little changed thus far on the day, not doing too much yesterday as well. The euro got a slight bump higher after the ECB decision, in which the reports after pretty much ruling out a back-to-back move in July.
Besides that, broader markets remain on edge as we await the main event later today.
After nearly a week of waiting on this, expect the market reaction to be a notable one in the aftermath.
As much as a softer number might lead to stronger odds of a sooner Fed rate cut, do be reminded that stagflation risks are creeping into the picture.
Here’s a bunch of previews ahead of the key release:
- What to expect from the US jobs report tomorrow
- US jobs numbers due Friday – Non-farm payrolls preview
- JP Morgan says a big miss, or beat, on the US jobs report (NFP) could flip the narrative
- Deutsche Bank’s Back To The Future NFP preview, longest low unemployment run since 1950s
This article was written by Justin Low at www.forexlive.com.
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