Investors Expect a Report on the Labor Market in the US

Today, the attention is focused on the labor market statistics in the US. Experts expect that in July, 183,000 jobs will be created in the non-agricultural sector of the country. The growth of the average hourly wage will be 0.3% compared to the previous value of 0.2%. The unemployment rate will decrease by 0.1% to 4.3%. This report will have a significant impact on the dynamics of the US dollar over the next week. Positive data can strengthen investors’ expectations about another increase in the Fed’s interest rate this year. At the moment, the probability of tightening the monetary policy in December 2017 is at the level of 42.2%.

The Bank of England, as expected, kept the interest rate at the previous level of 0.25%. The number of votes for tightening monetary policy declined to 2. The head of the Central Bank Carney is concerned about further economic relations with the EU. These events caused a sharp sale of the pound.

At the moment, prices of “black gold” are consolidating. Futures for the WTI crude oil are traded near $49 a barrel.

Market Indicators

Major US stock indices showed mixed results: #SPY (-0.19%), #DIA (+0.08%), #QQQ (-0.39%).

The 10-year US government bonds yield demonstrates negative dynamics. At the moment the indicator is at the level of 2.22%.

Today we recommend you to pay attention to the following economic reports: