Jobs Outlook: US Nonfarm Payrolls expected to rise by 170,000 in December, down from November’s 199,000. Unemployment rate may tick up to 3.8%.
Market Impact: Data could influence Fed rate hike expectations and US Dollar valuation. Strong jobs report could delay rate cuts, while weak data could bolster them.
Fed Watch: Markets currently expect rate cuts as early as March, but some Fed officials warn against moving too quickly.
Technical Outlook: EUR/USD faces key support and resistance levels depending on the jobs data outcome.
Details:
The US Bureau of Labor Statistics releases the December Nonfarm Payrolls report at 13:30 GMT.
Analysts anticipate continued slowdown in job growth but remain strong overall.
Wage inflation is predicted to dip slightly from November’s 4% increase.
Strong jobs data could boost the US Dollar and dampen EUR/USD, while weak data could do the opposite.
Investors also watching for clues about the Fed’s future policy direction.
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