The latest US Jobs Report showed 206k new jobs created vs. expectations of 190k. Last month’s figure however was revised sharply lower from 272k to 218k.
The June US Jobs Report (NFP) showed 206k new jobs created, compared to forecasts of 190k, but last month’s figure was revised markedly lower from 272k to 218k, a revision of 54k. The unemployment rate nudged higher to 4.1% from a prior reading, and forecast, of 4%, while average hourly earnings met forecasts of 3.9% y/y and 0.3% m/m.
The US dollar is little changed after the release with the dollar index (DXY) trading on either side of 105. US interest rate expectations edged around 4 basis points higher and are currently fully pricing in two, 25 basis point rate cuts this year.
US Dollar Index Daily Chart
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