WTI is testing key structure both ways in NFP volatility – by fx_ross Oil WTI Commodities Technical Analysis Fed
Nonfarm Payrolls in the US rose 209,000 in June, the US Bureau of Labor Statistics reported on Friday. This reading came in below the market expectation of 225,000. May's increase of 339,000 got revised lower to 306,000. Average Hourly Earnings, stood unchanged at 4.4%, compared to analysts' estimate of 4.2%.the Unemployment Rate fell 0.1% to 6.9% from 6.7%.
''As noted in the meeting minutes for the last FOMC decision in June, policymakers still view current labour market conditions as too tight, and wage gain too elevated for inflation to sufficiently return to the 2% target over time. We expect the Fed to hike the fed funds rate by 25 bps in July.'' If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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