Oil Prices Surge as Iran Hormuz Restrictions Renew Supply Fears 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Asian Currencies Rise as Dollar Stays Near Six-Week Low, RBI Holds Rates Steady 
US Stock Futures Rise as Markets Await July Payrolls Data 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
Trump Says U.S.-Iran Talks Progressing as Hopes Rise for Strait of Hormuz Reopening 
Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
German Bund Yields Hit Three-Week Low as Energy Prices Ease and ECB Outlook Softens 
UK Services PMI Returns to Growth in July as New Orders and Confidence Rebound 
US Stock Futures Hold Steady as Iran Hormuz Deal and Earnings Shape Market Sentiment 
Canada, US Hold Constructive Trade Talks as Tariff Negotiations Continue 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
Dollar Holds Near Six-Week Low as Yen Loses Momentum Ahead of U.S. Jobs Data 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
Gold Prices Steady as Hormuz Tensions Fuel Fed Rate Concerns 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
U.S. job growth likely accelerated in July, signaling continued labor market resilience and giving the Federal Reserve room to keep its attention on persistent inflation.
Economists surveyed by Reuters expect nonfarm payrolls to have increased by 80,000 jobs in July, up from 57,000 in June. Forecasts range from 10,000 to 140,000 new jobs. While the consensus remains below the second-quarter monthly average of 111,000, it exceeds the estimated 20,000 to 50,000 jobs needed each month to match working-age population growth.
The U.S. unemployment rate is expected to remain at 4.2%, while the labor force participation rate could recover after falling to 61.5% in June, its lowest level in more than five years.
Economists characterize the U.S. labor market as stable rather than exceptionally strong or weak. Employers appear reluctant to significantly increase hiring but have also avoided widespread layoffs. A shrinking labor force, partly linked to tighter immigration policies, has also lowered the number of jobs required to maintain employment stability.
Attention will be focused on potential revisions to May and June payroll figures. Recent Job Openings and Labor Turnover Survey data have suggested weaker employment flows in industries such as healthcare.
Healthcare is expected to lead July job creation, while leisure and hospitality employment could rebound after declining by 61,000 in June, the sector's largest drop since the COVID-19 pandemic. Manufacturing may also post modest gains following signs of stronger factory employment.
Annual wage growth is forecast to hold at 3.5%.
A jobs report broadly matching expectations could keep a September Federal Reserve interest rate move in consideration, particularly if unemployment slips to 4.1%. The Fed recently kept its benchmark interest rate at 3.50%-3.75%, though three policymakers favored a quarter-point increase.
Despite low unemployment, challenges remain for job seekers. Unemployed Americans are taking longer to find work, with the average duration of unemployment approaching a four-year high. Recent college graduates are also facing a difficult hiring environment.
Overall, the July U.S. jobs report is expected to show a labor market that remains stable despite slower hiring, keeping inflation, employment trends and Federal Reserve interest rate policy firmly in focus.
