U.S. Jobs data surprises adding 2.5m jobs in May
June 5, 2020
EUR/USD 1.1314 GBP/USD 1.2691 USD/CAD 1.3396 AUD/USD 0.6988 USD/JPY 109.64 USD/CNH 7.0763 USD/ILS 3.4598 USD/MXN 21.6382 USD/CHF 0.9644 USD/INR 75.5825
The US pared 0.4% losses to daily highs after posting stronger than expected employment numbers. The report shows the addition of 2.5m jobs in May versus a 7.5m drop expected and unemployment dropped to 13.3% versus an estimate of 19%.GBPThe pound shrugged off lack of progress in Brexit negotiations and marched higher in early trading. The pair took a hit after US Jobs data surprised to the upside. Analysts expect more nervousness to permeate in the UK currency as we approach the June 30 deadline. The pound has had 7 straight days of gains – the longest rally since April 2018.EURThe euro was marginally lower on profit taking as the pair approached a trend line ahead of US Jobs data. The surprise beat in Jobs data sent the pair lower.CADThe Canadian Jobs report also showed an unexpected jump and the Canadian currency advanced versus the greenback to three-month highs. Delegates from OPEC+ will meet over the weekend to reach an agreement to extend oil production cuts until the end of July.ASIA/PACIFIC
The Japanese yen is down 0.3% versus the greenback after non-farms payroll numbers surprised. The Australian dollar rally continued, but also pared gains due to dollar rebound.
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