Non-farm employment in the USA decreased by 23 thousand in July. Expectations were for an increase of 80 thousand.
After the figures were announced, the Fed’s expectation of an interest rate increase in September decreased.
Unemployment was 4.1 percent in July. Expectations were at 4.2 percent.
On the other hand, hourly earnings in the USA increased by 0.05 percent.
Since the weak employment figure indicates the weakness of the US economy, the thought that the Fed will not raise interest rates increased purchasing in the markets.
The dollar is losing strength against global currencies. While the Japanese yen appreciated by 1 percent against the dollar, the euro gained 0.35 percent against the dollar.
