Loading…
US nonfarm payrolls rose 272,000 in May 2024 against an expected 185,000. Unemployment edged up to 4.0% and wage growth reached 4.1% year on year.
The US Dollar Index rose 0.5% to 104.60 after the release.
A large jobs beat with firm wages pushes back expectations for Fed easing, which strengthens the dollar and tends to weigh on dollar-priced commodities.
fxstreet.comFXStreet TeamJun 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 payrolls beat (272k vs 185k expected) with wage growth at 4.1% was the direct catalyst for the dollar's jump upon release.
