● TheUS Department of Labor will release its report on Friday, the 5th of July.Nonfarm payrolls (NFP) are expected to have declined to 190,000 in June. Theunemployment rate is projected to remain at 4.0%.

● Sincethe beginning of the year, the interest of financial market participants hasincreasingly shifted towards data on the US labour market, which has a greatimpact on the exchange rate of the dollar.

● Inthe previous month, the dollar index rose to 105.85 points.

On the 5th of July, the U.S. Labor Departmentis due to submit another report on the number of people employed in thenon-agricultural sector. According to experts' expectations, the number ofemployed will decrease to 190,000 in June, despite the fact that in May thisfigure was at the level of 272,000. Meanwhile, according to forecasts, theunemployment rate will remain stable at 4.0%. The US Federal Reserve is alreadyreceiving positive signals to reduce inflation and unemployment data combinedwith NFP may strengthen sentiment in the direction of lowering the interestrate in the coming months. As a result, a change in the interest rate will havea strong impact on the entire financial market and on investor sentiment. OnTuesday, the JOLTS Job Openings data showed an increase of 221,000 from theprevious month to 8.140 million in May 2024, exceeding expectations. This dataprovides a positive signal for a potential reduction in unemployment. Averagehourly earnings for all employees on U.S. private nonfarm payrolls increased by14 cents, or 0.4%, to $34.91 in May 2024. The U.S. unemployment rate reached atwo-year high, hitting 4.0% in May 2024, the lowest level in more than twoyears. Analysts believe that the unemployment rate in June will remain at theMay level of 4.0%. "The increase in job openings could help address therising unemployment issue and, consequently, inflation," said Kar YongAng, a financial market analyst at Octa. "The rise in unemployment amidincreasing job openings indicates that the available jobs do not meet thepopulation's expectations. Thus, the labor market is experiencing acooling," he added. Over the past month, the U.S. Dollar Index increasedby 1.17% to 105.85 points. If the support level of 104 points is breached,further decline in the U.S. Dollar Index to 101.9 points can be expected.However, if the upward trend since the beginning of the year continues andsolidifies above the 106.5 level, market sentiment will favor U.S. dollarbuyers.

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