US Jobs data beat expectations sending dollar lower and investors to equities

US jobs data surprised to the upside showing better than expected numbers reflecting June openings. Increased cases of COVID across the US has paused some reopening efforts.
“My barn having burned down, I can now see the moon.”
Mizuta Masahide (17th century Japanese poet and samurai)
  • FX Rates
    July 2, 2020

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  • USD

    The dollar slipped and equities rose following US jobs data as a slightly reopened economy added 4.8M jobs in June vs 3.2M expected. Unemployment also beat expectations and improved to 11.1%. Manufacturing data wraps the US economic calendar ahead of the holiday weekend.


    The pound gained ahead of US jobs data. PMI manufacturing data released yesterday showed the sector expanded slightly with a reading of 50.1.

    The euro hit one week highs versus the dollar as option indicators pointed to the upside and Europe said that they have sufficient anti-viral supplies.
    The loonie was steady against the dollar ahead of US jobs numbers and increasing COVID cases in the US. Markit PMI figures are due out today.
    Range bound yen is largely unchanged at 107.48 as early sales in the Asia session were offset by fix demand.
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Kathryn Garvey
Kathryn Garvey

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