Nonfarm payrolls preview: dollar weak heading into the event - FXStreet
Valeria Bednarik, chief analyst at FXStreet offered a preview of the nonfarm payrolls due tomorrow in the US shift.
Key Quotes:
"The dollar heads into July Nonfarm Payrolls data with a weak tone, compliments to dismal Q2 GDP figures and an on-hold FED.
The last two releases were quite volatile, with the US adding 38,000 new jobs in May, later revised down to 11,000 and 287,000 new jobs in June, still unrevised.
Anyway, and dismissing May reading as an exception, employment has presented quite a healthy positive trend for over two years now.
The unemployment rate, rose from 4.7% to 4.9% last June, nothing actually worrisome. In fact, during latest FED's meeting, the Central Bank acknowledged that the employment sector is growing stronger. The main concern of the FED is still low inflation."