NFP Thursday: Second Increase is in Sight

Nonfarm Payrolls are expected to record a jump in June due to reopening operations and rehiring during the month. After an increase by 2.5m in May and a significant decrease in April, economists estimate a 4m gain in June.

But as coronavirus hits back, the US job growth is likely at risk again. Many US states are halting or pausing reopenings since late June. This won’t be painted in today’s data, as businesses are surveyed in the middle of the month. Instead, the impact of this month’s surge in COVID-19 cases numbers on the economy and businesses might be apparent in next month’s NFP
Data.

FX analysts see stocks rising and the dollar falling in response to better than expected numbers.