June formal employment in Brazil rose by 145.2K, surpassing the 115.0K consensus estimate, signaling economic resilience.
Brazil’s Labor Ministry reported a 145.2K increase in formal jobs for June, exceeding the Reuters consensus of 115.0K. The gain reflects a stronger-than-expected labor market recovery amid broader economic uncertainty.
The print follows a period of mixed economic signals, with policymakers citing risks from tariffs, consumer spending, and housing market slowdowns. Despite the rebound, concerns persist over inflation and geopolitical tensions.
USDCAD showed little reaction to the data or Bank of Canada minutes, holding steady ahead of the FOMC decision.