Dollar smiles as NFP smashes expectations

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The Dollar flickered to life on Friday afternoon after Nonfarm Payrolls (NFP) increased by a solid 2.5 million in May, smashing the market expectations of -8 million.

The unemployment rate also offered by a pleasant surprise by dropping -13.3% compared the -20% forecast while average hourly earnings came in at -1% month-on-month, below the 1% estimate. Overall, the jobs report is certainly encouraging and suggests that the largest economy in the world is trying to get back on its feet. However, this optimism may be squashed by over the coming weeks if economic data continues to disappoint… Read More:

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