TD Securities Analysts They said they expect nonfarm payrolls to pick up again in July, with a preview of key macroeconomic data released next week in the US.
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“Data from Homebase suggests some acceleration in the private sector, while government payrolls likely benefited from favorable seasonal adjustments. We anticipate another 0.3% MoM increase in average hourly earnings. The 12-month change is likely. increase again to 3.8% from 3.6% in June. “
“Mixed but slightly positive signals from regional data suggest an improvement over June for ISM surveys. Around 60, June readings were still consistent with strong growth, although both came off recent highs (reading from 64.0 for services in May was an all-time high.) Growth impulses from the ‘reopening’ and fiscal stimulus are likely to have peaked. “
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