Friday’s payrolls report from the US Labor department showed an overall positive outlook on the jobs market. The US economy added 209k jobs in July. This was higher than the median estimates of 182k. June’s payrolls were also revised higher to 231k. Wage growth also increased 0.3%, in line with expectations while the US unemployment rate fell to 4.3%.
The US dollar posted strong gains on the back of the payrolls report helping the currency to recover some of the losses.
Looking ahead, it is likely to be a slow day for the markets. The German industrial production data is due today and is forecast to rise 0.2% on the month. The Swiss inflation data is also due later today and is expected to fall 0.3% on the month.
In the US trading session, Minneapolis Fed President, Neel Kashkari, an FOMC voting member will be starting the Fed speak this week.
