After the April non-farm employment data in the USA fell below expectations at 115 thousand, gold prices rose in global markets and the dollar index declined.
US non-farm employment data, which the markets have been eagerly awaiting, has been announced. The slowdown in the increase in non-farm employment in April had a direct impact on asset pricing in global markets. Following the data, there was an increase in precious metals and a retreat in the dollar index.
EMPLOYMENT AND HOURLY EARNINGS DID NOT MEET EXPECTATIONS
According to the announced data, non-agricultural employment in the USA increased by 115 thousand people in April. In the previous month, March, this figure was recorded as 178 thousand. The unemployment rate in the country remained unchanged at 4.3 percent.
On the other hand, average hourly earnings, which are closely watched by the markets in terms of inflation indicators, also showed a picture below expectations. Average hourly earnings, which were expected to be 3.8 percent, increased by 3.6 percent on an annual basis.
