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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.”

RBA: Optimistic, supports call for next move in the cash rate to be up - TDS

The RBA remains generally upbeat on the domestic and global economic outlook, yet the Bank took the opportunity to downgrade its near term GDP forecas
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USD/JPY consolidated near 7-week lows, awaits NFP for fresh impetus

The USD/JPY pair has managed to bounce off lower levels and is currently holding in neutral territory around the 110.00-110.10 region.  Earlier durin
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