BREAKING: EURUSD slumps on strong NFP❗️

01:30 PM BST, United States - Employment Data for June:

• Participation Rate: actual 62.3%; previous 62.4%;

• Unemployment Rate: actual 4.1%; forecast 4.3%; previous 4.2%;

• U6 Unemployment Rate: actual 7.7%; previous 7.8%;

• Private Nonfarm Payrolls: actual 74K; forecast 105K; previous 137K;

• Nonfarm Payrolls: actual 147K; forecast 111K; previous 144K;

The latest Non-Farm Payrolls report defied expectations, indicating a strong labor market despite alarming ADP figures yesterday. Job creation came in higher than anticipated, and the unemployment rate fell, dimming hopes for a swift dovish shift by the Federal Reserve.

Adding to the positive momentum, last month’s already solid job numbers were revised upward from 139,000 to 144,000. This suggests that hiring remains resilient, even amid ongoing trade uncertainties and volatile commodity prices. 

The FX and bond markets reacted strongly to the upside surprise in the Non-Farm Payrolls report. The U.S. dollar rebounded sharply, reflecting renewed confidence in the strength of the labor market. At the same time, Treasury yields spiked, as the report offered no clear signals that would justify an interest rate cut in June.

Source: xStation5