Report: The latest US employment data indicates that the Federal Reserve will keep interest rates unchanged this year.

Global economist Mohit Kumar stated in a report that the U.S. employment data in June supported Jefferies' view that the Federal Reserve will not raise interest rates this year. He wrote, "The U.S. economy remains resilient, but the employment data is not strong enough to warrant a rate hike." He indicated that in the coming months, inflation data may be more important than employment data in terms of expectations for the Federal Reserve. "But unless inflation data significantly exceeds expectations, we believe that the employment data will give the green light for our preferred trades in the coming weeks - going long on stocks, credit bonds, and short-term interest rates."