# US jobs shock hit markets; USD tumbles

> The US dollar fell sharply after the July non-farm payrolls report showed 73k jobs against a 106k forecast, with the June and May figures revised down sharply. The report came alongside new US reciprocal tariff rates that hit several trading partners, including Switzerland at 39% and Canada at 35%.

- Date: 2025-08-03 · published 2025-08-03T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/10143-us-jobs-shock-hit-markets-usd-tumbles
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A weaker dollar and softer US labour data tend to support dollar-denominated commodity prices, including grains and oilseeds, while the tariff changes add uncertainty to export flows. The payrolls surprise also raises expectations of Fed rate cuts.

## Read by commodity

- DXY: bearish ▼
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-03-26 | [Forex markets: Dollar drops as US jobless claims surge](https://feedsoft.ai/events/6584-forex-markets-dollar-drops-as-us-jobless-claims-surge.md) | -0.8% | -0.7% |
| DXY | 2020-07-31 | [Oil on track for monthly gains as US cuts production - Markets - Business Recorder](https://feedsoft.ai/events/52264-oil-on-track-for-monthly-gains-as-us-cuts-production-markets-business-recorder.md) | -0.3% | -0.6% |
| DXY | 2025-04-26 | [Government intervention affects dairy markets - Dairy Star](https://feedsoft.ai/events/11899-government-intervention-affects-dairy-markets-dairy-star.md) | -0.3% | -1.2% |
| DXY | 2024-06-20 | [Oil prices rise on US crude draw; jobs data feeds rate cut hopes](https://feedsoft.ai/events/29926-oil-prices-rise-on-us-crude-draw-jobs-data-feeds-rate-cut-hopes.md) | +0.2% | -1.0% |
| DXY | 2026-07-28 | [Euro skyrockets amid softer US confidence](https://feedsoft.ai/events/7689-euro-skyrockets-amid-softer-us-confidence.md) | -0.9% | -2.0% |
| SOY | 2019-06-28 | [USDA acreage report shocks the market](https://feedsoft.ai/events/58542-usda-acreage-report-shocks-the-market.md) | -1.7% | -0.5% |
| SOY | 2018-03-30 | [The soybean market is shocked by the USDA report](https://feedsoft.ai/events/66080-the-soybean-market-is-shocked-by-the-usda-report.md) | -1.1% | +0.0% |
| SOY | 2017-06-30 | [USDA shocks markets with low soybean, wheat acres \| Farm Progress](https://feedsoft.ai/events/9720-usda-shocks-markets-with-low-soybean-wheat-acres-farm-progress.md) | +8.8% | +9.3% |

## Sources

- convera.com: https://convera.com/blog/market-insights/fx-research/daily-market-updates/us-jobs-shock-hit-markets-usd-tumbles/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.