July Nonfarm Payrolls fell by 23K jobs, missing forecasts of an 80K gain and signaling economic softening.
The US Dollar Index (DXY) slid below the 100.00 mark following a disappointing July Nonfarm Payrolls report. The economy lost 23K jobs, contrasting sharply with expectations of an 80K increase. June’s figures were also revised downward to 20K jobs added, while Average Hourly Earnings growth slowed to 3.2%.
Analysts had anticipated a stronger labor market recovery, but the data underscored weakening employment trends. The prior month’s revision and slower wage growth added to concerns about economic momentum. Markets are now closely watching upcoming inflation data for further policy cues.