US May Non-Farm Payrolls Soar to 172K, Far Above 85K Forecast
The US added 172,000 jobs in May, well above the 85,000 expected, while the unemployment rate stayed at 4.3%. The strong report is adding to market pressures.
EURUSD
The US Bureau of Labor Statistics reported a 172,000 increase in non-farm payrolls for May, sharply beating the consensus estimate of 85,000. The unemployment rate remained unchanged at 4.3%.
The data intensifies existing market pressures, as the stronger-than-expected labor market may influence Federal Reserve policy expectations. Traders are now assessing the implications for interest rates and the US dollar.
Source: FXStreet Forex News