The dollar jumped on Friday after data showed the world’s largest economy created more jobs than expected last month, suggesting the Federal Reserve would likely be in no rush to cut interest rates over the next few months.
Quick Read
- The U.S. economy created more jobs than expected in December, with 216,000 new jobs, surpassing the forecast of 170,000.
- The unemployment rate remained unchanged at 3.7%, defying expectations of an increase to 3.8%.
- Average earnings rose by 0.4% month-on-month, higher than the predicted 0.3% gain.
- This robust job data suggests that the Federal Reserve may delay cutting interest rates in the near term.
- Following the release of this data, the dollar index reached a new two-week high of 103.10 and was last seen at 102.79, marking a 0.3% increase.
Reuters has the story:
King DOLLAR gains after higher-than-expected US job openings report
Newslooks- NEW YORK, Jan 5 (Reuters) –
The dollar jumped on Friday after data showed the world’s largest economy created more jobs than expected last month, suggesting the Federal Reserve would likely be in no rush to cut interest rates over the next few months.
Data showed the U.S. economy generated 216,000 new jobs in December, exceeding the consensus forecast of 170,000. The unemployment rate was steady from November at 3.7%, compared with expectations of a rise to 3.8%, while average earnings rose 0.4% on a monthly basis, against forecasts of a 0.3% gain.
The dollar index hit 103.10, a new two-week high, and was last at 102.79, up 0.3%.
