Dollar falls to three-month low after weak US jobs data
The dollar slipped to its weakest level in three months after U.S. payrolls fell by 23,000 in July and May and June were revised down by a combined 103,000, while retail sales dropped 0.6% to $763.6 billion and consumer prices rose 3.4% year-on-year with core inflation at 2.5%. Traders cut the odds of a September Fed rate increase to about 30% from roughly 75%, lifting gold (up 9.3% in a month to $4,407 an ounce) while bitcoin moved only 0.7% amid thin trading; markets await FOMC minutes and PMI surveys for the next signal.
Traders now assign roughly 30% chance of a September rate hike.
Context
U.S. job growth stalled and revisions reduced prior payrolls. Inflation measures cooled…
The full analysis
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- Full ContextLocked
- Affected SectorsLocked
- Stock ImpactLocked
- Economic IndicatorLabor market cooling (payrolls stalled…Locked
- Investor RelevanceLocked
- Professional RelevanceLocked
- Watch PointsFOMC minutes release (to see committee…Locked
- Probability of ChangeLocked
- Debate PointsLocked
- Prerequisite KnowledgeLocked
- Follow-up QuestionsWill the FOMC minutes show a closer…Locked
- Pros & ConsGold investors: expect gains because…Locked
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