US NFP Misses Expectations, Rises 57K in June vs 110K Estimate

The US Bureau of Labor Statistics reported that Nonfarm Payrolls rose by 57,000 in June, falling well short of the 110,000 expected by economists. The May figure was revised down to 129,000 from the initially reported 172,000.

The weaker-than-expected labor market data may reduce pressure on the Federal Reserve to keep rates elevated, potentially weighing on the US dollar in the near term.