New Zealand Morning Focus

The US June nonfarm payroll report showed significantly weaker-than-expected job growth, with a drop in labour participation to a 50-year low. Markets reacted with a weaker USD and mixed equity performance across regions.

Key Takeaways

• 1.US June nonfarm payroll growth of 57k was significantly below expectations and accompanied by downward revisions to prior months.
• 2.The US labour force participation rate dropped to 61.5%, marking a 50-year low.
• 3.Equity markets saw divergence with US indices falling, while European bourses rallied.

Table of Contents

• Highlights
• Data and events today
• Financial markets
• Global markets overview
• Key data and events
• Key themes and views
• Market snapshot (07:15 NZ Time)
• Key data releases
• What's ahead today

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