In the US session Unemployment Claims and Non-Manufacturing PMI data was released. In the week ending July 29, the advance figure for seasonally adjusted initial claims was 240,000, a decrease of 5,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 244,000 to 245,000. The 4-week moving average was 241,750, a decrease of 2,500 from the previous week's revised average. The previous week's average was revised up by 250 from 244,000 to 244,250.
The NMI® registered 53.9 percent. This represents continued growth inthe non-manufacturing sector at a slower rate. The Non-Manufacturing Business Activity Index decreased to 55.9 percent, 4.9 percentage points lower than the June reading of 60.8 percent, reecting growth for the 96th consecutive month, at a slower rate in July. The New Orders Index registered 55.1 percent, 5.4 percentage points lower than the reading of 60.5 percent in June.
There will be no major data releases from Eurozone tomorrow. Focus of the US session will be on NFP report. Analysts predict number of employed to increase by 181,000, with unemployment rate falling to 4.3%.
Figures to watch:
Non-Farm Employment Change/Unemployment Rate (Friday 14:30)
