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

    Rates are not real time. Rates are today's indicative mid-market rates as of time of publishing, which may vary. Please contact SVB for a current quote.


  • 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.

    GBP

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

    EUR
    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.
    CAD
    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.
    ASIA/PACIFIC
    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
WRITTEN BY
Kathryn Garvey

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