Analysts at Royal Bank of Canada are looking for US employment growth to bounce back to a 180k rate in June after a 75k increase in May.
Key Quotes
“The unemployment rate held at multi-decade lows in May and wage growth is still tracking slightly above a 3% pace.”
“The risk of an escalation in trade tensions is still a legitimate concern for Federal Reserve policymakers. And low inflation is giving the central bank lots of flexibility to respond, potentially pre-emptively, with more stimulative monetary policy. But solid current economic data recently still makes market pricing for almost-certain rate cuts as soon as July look odd.”
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