USD Lower After Strong Jobs Report

July 6, 2018 Share Print 0

The dollar fell on Friday after data showed the U.S. economy created more jobs than expected in June, but a closely-watched inflation gauge — wage growth — rose less than forecast, while the unemployment rate increased.

Nonfarm payrolls advanced by 213,000 jobs last month, the Labor Department said. Data for April and May was revised to show 37,000 more jobs created than previously reported.

The unemployment rate, however, rose to 4.0 percent from an 18-year low of 3.8 percent in June, while the average hourly earnings rose five cents, or 0.2 percent in June after increasing 0.3 percent in May.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.