Investors await US jobs data with Nonfarm Payrolls expected to rise by 80K after June’s weak 57K gain.
The US Dollar (USD) remains subdued early Friday as traders avoid large positions before the July Nonfarm Payrolls report. The data, including unemployment and wage inflation, will shape Federal Reserve policy expectations.
June’s Nonfarm Payrolls rose just 57K, missing forecasts, while analysts project a rebound to 80K for July. Danske Bank expects 70K jobs added, unchanged unemployment at 4.2%, and 0.3% monthly wage growth. Fed officials are closely monitoring labor trends.
The USD Index closed higher Thursday after two days of losses, stabilizing near 100.00 amid cautious sentiment. Markets will also digest Canadian labor data later today.