Summary:
U.S. April nonfarm job growth was below expectations, and the unemployment rate rose, raising the likelihood of a Fed rate cut soon.
April NFP (Nonfarm Payroll)
7/6/2024 (Fri)
Previous (Apr): 175k Forecast: 190k
The US economy added fewer jobs than expected in April while the unemployment rate rose, lifting hopes that the Fed will be able to cut interest rates in the coming months.
Moreover, average hourly earnings rose 0.2% from the previous month and 3.9% from a year ago, both below consensus estimates and an encouraging sign for inflation.
US economy grew at an annualised pace of 1.3% during Q1, down from a first reading in April of 1.6% growth. That primarily reflected a downward revision to consumer spending.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Australian dollar shows short-term strength in 2025, driven by economic recovery and easing trade tensions, but long-term risks remain.
2025-06-16
The US dollar slides to a three-year low as cooling inflation boosts expectations for Fed rate cuts ahead of this week’s FOMC meeting.
2025-06-16
The yen edged lower Monday as safe-haven flows lifted the dollar amid Israel-Iran conflict fears and surging energy prices hurting Japan's economy.
2025-06-16
