![(03 AUGUST 2018)DAILY MARKET BRIEF 2:US job growth has consequences (03 AUGUST 2018)DAILY MARKET BRIEF 2:US job growth has consequences](https://c.mql5.com/6/810/splash-720038.jpg)
(03 AUGUST 2018)DAILY MARKET BRIEF 2:US job growth has consequences
3 August 2018, 14:44
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If the USD needs any more evidence of economic acceleration, it should come today. US payrolls are expected to increase by 193,000 for July, unemployment will fall to 3.9% from 4.0% and, potentially most important, average hourly earnings are expected to advance 2.7%. That said, US labour markets have run so hot for so long with the economy at full capacity, the prospect of a breakout in wages is high. Risk of US inflation has risen, drawing threat of an interest hike. Strong labour markets provide President Trump a base from which to aggressively negotiate on trade: so short China.
By Peter Rosenstreich