US Edition
Dollar Gains Momentum Amid Surging U.S. Job Growth
- In June, employment increased by 147,000 positions, exceeding economists' predictions of 110,000, while the unemployment rate dropped to 4.1%, lower than the anticipated 4.3%.
- This strong jobs report follows an ADP private sector loss of 33,000 jobs and reflects economic resilience amid tariff uncertainty and extended tax cuts.
- Government hiring accounted for 73,000 of the new jobs, primarily at state and local levels, while the labor force declined by 130,000, possibly due to immigration factors.
- The U.S. dollar advanced notably, rising by 0.70% versus the Japanese yen and increasing 0.40% relative to the Swiss franc, while the euro declined by 0.26%, reflecting positive market sentiment following the report.
- This robust labor market report supports Federal Reserve Chair Jerome Powell's data-driven approach to maintain rates and diminishes the likelihood of a July rate cut despite political pressure.
13 Articles
13 Articles
The S&P 500 and the Nasdaq index broke new records on Thursday. The mood on the Damrak was also good. The unexpectedly high American job growth figure was warmly welcomed, although this has reduced the chance of a quick interest rate cut.
Dollar Gains Momentum Amid Surging U.S. Job Growth
Dollar Gains Momentum Amid Surging U.S. Job Growth The U.S. dollar gained strength against key currencies, including the yen, euro, and Swiss franc, after a U.S. Labor Department report revealed that job creation outpaced analyst forecasts. The strong employment numbers suggest that the Federal Reserve might need more time before deciding on cutting interest rates.With the dollar appreciating by 0.70% against the yen and 0.40% against the Swiss …
By challenging forecasts and predictions, the American economy proceeds to a respectable cruising speed. It even accelerates, at least with regard to the creation of new jobs
Coverage Details
Bias Distribution
- 67% of the sources are Center
To view factuality data please Upgrade to Premium
