US NFP likely to print 165K for July – Deutsche Bank

According to Deutsche Bank analysts, despite all the central bank, political, and data noise so far this week, things will continue to be eventful today when we get the US jobs report for July.

Key Quotes

“Consensus is calling for a 165,000 print, below June’s 224,000 figure but roughly in-line with the 3- and 6-month moving averages. The unemployment rate is expected to fall back 0.1pp to 3.6%, while average hourly earnings are forecast to rise by the same pace as June, 0.2% mom and 3.1% yoy.”

“Apart from the US jobs report today, we’ll also get the trade balance and factory orders for June. There’ll also be the final readings for the University of Michigan’s sentiment indicator for July and durable goods orders for June.”