Job growth seen slowing.

U.S. July unemployment data is due out this morning, with economists estimating that nonfarm payrolls rose by 185,000 vs 195,000 in June and that the jobless rate inched down to a four-year low of 7.5% from 7.6%. The data will come after figures yesterday showed that weekly jobless claims fell to a 5 1/2 year low. As usual, the numbers will be scrutinized for what they could mean for the Fed's QE program.