NFP data exceptionally on Thursday. Will they mix up again?

Thursday's event on the financial markets is the publication of data from the US labor market (including NFP). Will they be stunned again, just like a month ago?

NFP on Thursday (!)

The Thursday macroeconomic calendar is filled to the brim with US data. At 14:30 monthly data from the US labor market will be published (employment in the non-agricultural sector, unemployment rate, wages), weekly data on applications for unemployment benefits and May trade balance data. At 16:00, however, reports on US industrial orders and revised data on durable goods orders will be released.

Market attention will obviously focus on labor market reports. Their publication has been moved from Friday to today due to the fact that Friday in the US is a day off before Saturday's Independence Day.

The market forecasts that in June employment in the non-agricultural sector increased by 3 million people after an increase of 2,51 million a month earlier. Of course, we are talking here about people returning to the labor market after they have been laid off, and not about new jobs being created. At the same time, the unemployment rate is expected to fall to 12,3 percent. from 13,3% in May.

Calendar of macro data from the USA (02.07.2020). Source: macroNEXT

A month ago these data surprised strongly. Employment increased instead of falling sharply. There was also no expected spectacular jump in unemployment.

Now also the described data may surprise. Quite well illustrated by payrolls' forecast. These range from 405. up to 9 million new jobs, with a median of 3 million This tells you to fasten your seatbelt before 14:30, because after the data it can swing heavily. Especially that there will be more reports then.