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US job gains surged past expectations in May 2024, and wage growth quickened. The report was published on June 7, 2024.
The article text is limited to the headline and sidebar content.
Strong US labor data reduces the odds of near-term Fed rate cuts, which supports the dollar and can weigh on dollar-denominated commodity prices.
reuters.comLindsay DunsmuirJun 7, 2024After 53 past bullish report events, US Dollar (Broad) moved a median +0.1% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
The jobs report headline with job gains and quickening wages is the underlying data release that repriced Fed expectations, though the details are limited.
