Goldman Sachs: We expect a below-consensus 85K non-farm payrolls ...Middle East

Key Points:

Unemployment Rate to Tick Up:• The jobless rate forecast to rise to 4.3% from an unrounded 4.24% last month.• This reflects sequential gains in broader labor slack measures.

Strike Impact Offset:• Some upside from the end of worker strikes (+6k), but not enough to materially lift the headline.

Goldman Sachs expects the June jobs report to confirm a slowing US labor market, which should reinforce the Fed’s gradual dovish shift and maintain downward pressure on the USD, particularly if wage growth signals further disinflation.

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This article was written by Adam Button at www.forexlive.com.

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