Welcome to NFP day
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 tomorrowUS jobs numbers due Friday - Non-farm payrolls previewJP Morgan says a big miss, or beat, on the US jobs report (NFP) could flip the narrativeDeutsche 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.
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:
This article was written by Justin Low at www.forexlive.com.
