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US hiring cools further, dollar holds near 100 on Fed-wage outlook
In the four weeks ended July 25, companies averaged 8.25K jobs per week, down from 11K previously, a shift traders watch for implications on wage-driven inflation and Fed policy.
Private-sector hiring in the US cooled further in late July, according to FXStreet, citing the NER Pulse, the weekly companion to the ADP National Employment Report.
Companies added an average of 8.25K jobs per week over the four weeks ending July 25, down from a prior reading of 11K, signaling additional slowdown in hiring momentum.
FXStreet said the US Dollar Index, or DXY, traded just below the psychological 100.00 barrier as the Greenback built on earlier daily gains.
The analysis tied currency valuation to labor-market conditions, noting that employment and wage growth can influence consumer spending, inflation expectations, and therefore central bank decisions, with the Fed focused on maximum employment and stable prices.
Latest closeDollar index 99.81 ▲0.2%