U.S. nonfarm payrolls rose 172K in July, crushing forecasts and reinforcing labor market resilience amid steady unemployment.
The U.S. dollar surged after July nonfarm payrolls climbed 172K, far exceeding the 85K estimate. Upward revisions added 93K jobs to prior months, while unemployment held at 4.3% and wage growth remained steady.
The report underscored a labor market that remains robust, easing concerns about a sharp economic slowdown. Consensus had anticipated weaker hiring, but the data reinforced expectations for sustained strength in the U.S. economy.
USDJPY briefly retreated from 160.26 to 159.80 before rebounding, as traders weighed the risk of potential Japanese intervention. The pair remains above key support levels, keeping the near-term bias tilted higher.