Better data from Non Farm will give Fed a strong signal to rise rates in September

If August job growth comes in somewhere over 200,000, that would be strong enough to boost the chances for a Fed interest rate hike in September.

Analysts say during the month of August 180,000 nonfarm payrolls are created and the unemployment rate is expected to decrease by 4.8%. The report follows July's 255,000 jobs, and comes after two robust months of hiring removed concerns about an especially weak labor market in May.

The number of employment is the most important input data for Fed. Even so, many Fed viewers remain convinced that the second increase in interest rates in 10 years is likely to come in December, after the elections and much more data. Although many analysts and traders speculate what will the data be, economists warn that in recent years, the number of jobs in August were well below expectations. According to some analysts, the dollar will follow the results of the Nonfarm.

Goldman Sachs economists said they are expecting just 165,000 payrolls, based in part on the quirkiness of August reports. They said August payrolls have fallen short of consensus by about 49,000 since 2011. Bank of America Merrill Lynch expects to see 180,000 nonfarm payrolls, and they expect the Fed to hike rates in December. Ward McCarthy, chief financial economist, said even if the payrolls meet his forecast of 205,000, the Fed will not hike in September. His opinion is based on the statement by Janet Yellen, which manifest that important economic decisions will not be taken by one number. Barclays chief U.S. economist Michael Gapen is one of the few who has stuck with a view that the Fed will hike in September. He also expects to see 200,000 nonfarm payrolls.