All eyes and ears will be on the Non-Farm Payroll announcement tomorrow! Friday 8th July could be one of the most important days in July from a trader’s perspective as both institutional and retail traders alike globally are waiting to see whether last month’s number was an outlier or a real indication of the US jobs market slowing down significantly.
Here at HotForex, we believe it is likely that it was an outlier as the three-month average before last month’s horrendous reading of a surprisingly low 38.000 jobs (73.000 when adjusted for Verizon strike) was 181.000.
Analyst expectations for the July number range from 160.000 to 210.000 and we believe the payroll increase to be in between these forecasts. The consensus is expecting 178.000 new jobs.
*We will keep you updated via the analysis page and my Facebook page with some live commentary on the results and market action, so come and join us tomorrow around 12:30 pm GMT.
If the number differs strongly from analyst expectations tomorrow could be an interesting and exciting day!