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NFP Preview: Another Hot Jobs Report on Tap? DXY in Focus
Traders and economists expect the NFP report to show that the US created 212K net new jobs, with average hourly earnings rising 0.3% m/m (4.3% y/y) and the U3 unemployment rate ticking holding steady at 3.9%. The US economy has thus far defied expectations for a slowdown to start 2024, and tomorrow’s NFP report is the next major hurdle for growth optimists to clear. US economic data in recent weeks has remained generally strong, though there are some signs of a potential downshift (such as in Wednesday’s 4-year low in the ISM Services Prices Paid component) if you look hard enough, which Fed Chairman Jerome ... (full story)