US Initial Jobless Claims (W/W) 2-Aug: 226K (est 222K; prev 218K; prevR 219K)
US Unit Labour Costs Q2 P: 1.6% (est 1.5%; prev 6.6%)
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The slightly higher-than-expected number of unemployment claims is the latest reading in a row pointing to a weakening US labor market. This is also why we're seeing a rising EUR/USD response as investors increase the likelihood of a faster Fed interest rate cut.
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