US: Nonfarm payrolls likely to rise by 175,000 in July – Danske Bank

Today all eyes will be on the US employment report and analysts at Danske Bank expect that nonfarm payrolls rose 175,000 in July but markets will focus on the unemployment rate and wage growth.

Key Quotes

“We expect the unemployment rate was unchanged at 4.4%, while the average hourly earnings increase likely declined to 2.4% y/y from 2.5% y/y. The Fed continues to struggle with the combination of low unemployment and low inflation.”

“In Germany, factory orders for June are also released, which should show another monthly increase of 0.8%, in light of the continued strong business confidence and recent increases in the Ifo index.”