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3 Aug 2015
US employment growth to remain solid – BTMU
FXStreet (Edinburgh) - According to Lee Hardman, Currency Analyst at BTMU, the upcoming Non-farm Payrolls results could show a continuation of the solid performance of the US labour market.
Key Quotes
“The release in the week ahead of the latest non-farm payrolls report for July will be scrutinized even more closely than normal by market participants in order to further assess the likelihood of the Fed raising rates in September”.
“The report is expected to reveal that employment growth remained solid and that the annual rate of average hourly earnings growth has picked up modestly which could provide some support for the US dollar”.
“The wages and salaries component of the employment cost report has so far provided clearer evidence of a pick-up in wage growth than the hourly earnings growth component of the non-farm payrolls report”.
Key Quotes
“The release in the week ahead of the latest non-farm payrolls report for July will be scrutinized even more closely than normal by market participants in order to further assess the likelihood of the Fed raising rates in September”.
“The report is expected to reveal that employment growth remained solid and that the annual rate of average hourly earnings growth has picked up modestly which could provide some support for the US dollar”.
“The wages and salaries component of the employment cost report has so far provided clearer evidence of a pick-up in wage growth than the hourly earnings growth component of the non-farm payrolls report”.