The us nfp report june takes center stage later today, with forecasts pointing to 110,000 jobs added and an unchanged 4.3% unemployment rate.
In Europe, Swiss CPI is the main release on the calendar. The annual reading is expected to ease to 0.5% from 0.6%. However, the source article said the data is unlikely to change anything for the SNB, which has kept a neutral stance and signaled readiness to intervene in the FX market if needed.
In the U.S. session, traders will also watch weekly jobless claims. Initial claims are expected at 218,000, compared with 215,000 in the prior reading. Continuing claims are seen at 1.820 million, versus 1.821 million previously.
US NFP Report June Forecasts
The source article said recent jobless claims data had pointed to a stable or improving labor market. However, it also noted some minor easing in recent weeks. It added that claims often rise in the first part of summer because of seasonal factors.
For nonfarm payrolls, the forecast stands at 110,000 for June. That compares with 172,000 in May. Meanwhile, average hourly earnings are expected to rise 3.5% from a year earlier, up from 3.4% in the prior reading.
The monthly wage measure is seen at 0.3%. That would match the previous 0.3% pace. The unemployment rate is also expected to hold steady at 4.3%.
Swiss CPI Ahead of US NFP Report June
The source article described Swiss CPI as the only highlight in the European session. Therefore, market attention is likely to stay on the U.S. labor data later in the day.
It also said the main focus in the American session will be the payrolls report rather than jobless claims. The article added that the U.S. CPI report may matter more overall, because the Fed’s focus has shifted toward inflation.
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