August nonfarm payrolls in focus with major Fed decision ahead

August nonfarm payrolls in focus with major Fed decision ahead

data on Friday, which could factor into how the Federal Reserve gauges its next interest rate decision later this month.

The labor market data will likely play into how Fed Chair Jerome Powell approaches a much-anticipated shift away from a focus on taming inflation to preparations aimed at guarding against job losses. Powell said in August that the"time has come" to adjust monetary policy due to potential"downside risks" facing the US jobs picture.

"The pivot from inflation to jobs is complete," analysts at Citi said in a note to clients on Tuesday. Elsewhere, the Morgan Stanley analysts are calling for a payrolls figure of 185,000 and a jobless rate of 4.2%. Analysts at Nomura, meanwhile, see the numbers at 130,000 and 4.2%, respectively.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

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