The Jobs report is coming soon, be ready.

After the weakest jobs report in six years during May, the June data, due on Friday, are expected to show that the US labor market is still going strong.

Bank of America Merrill Lynch has called it the most important employment report of this year.

Via Bloomberg, here's what Wall Street is expecting:

Nonfarm payrolls: +180,000

Unemployment rate: 4.8%

Average hourly earnings month-on-month: +0.2%

Average hourly earnings year-on-year: +2.7%

Average weekly hours worked: 34.4

May's report showed a gain in nonfarm payrolls by just 38,000.

Another good indication for the report today was the ISM non-manufacturing index - a monthly reading on the services sector - showed that employment rebounded in June from contraction in the prior month.

Economists are also betting that wages would rise 0.2% month-on-month, taking the year-over-year gain to 2.7%, the highest of this cycle.

"A rebounding hiring performance, coupled with a pickup in earnings growth, would go a long way towards easing concerns that the US economy had hit a soft patch," said Wells Fargo economists in a note on Wednesday.

It's expected that the unemployment rate would inch up from a cycle low of 4.7% to 4.8%.

If we’ll see a good report, it’s very likely that the USD will go higher as the chance for another rate hike this year will be more realistic.

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Talk to us on the chat to activate your signals now, before the report comes out.

Signals Binary staff.