Dollar deepens losses after US monthly jobs report
The US dollar slumped against its peers on Friday, after the release of a disappointing monthly jobs report.
Data showed that the US economy has added 266,000 jobs during April, worse than forecasts of 990,000 jobs.
The US unemployment rate rose to 6.1% in April from 6% in March, while analysts forecast a drop to 5.8%.
Chinese data showed today that the country's service PMI rose to 56.3 points in April, beating forecasts of 54.2 points.
The Chinese trade balance recorded a surplus of 277 billion yuan, better than forecasts of 130 billion yuan.
The dollar index fell against a basket of currencies by 0.8% to 90.2 points as of 19:42 GMT, after it hit a high of 90.9 points and a low of 90.2 points.
Gold closes higher, scores weekly gain
Gold prices rose on Friday, as the US dollar slumped against its peers after the US monthly jobs report.
Data showed that the US economy has added 266,000 jobs during April, worse than forecasts of 990,000 jobs.
The US unemployment rate rose to 6.1% in April from 6% in March, while analysts forecast a drop to 5.8%.
US President Joe Biden said after the data that economy is on the right track despite a vastly disappointing monthly jobs
The dollar index fell against a basket of currencies by 0.8% to 90.2 points as of 19:46 GMT, after it hit a high of 90.9 points and a low of 90.2 points.
Gold June futures rose 0.9% or $15.60 to $1,820.1 an ounce, and closed at the highest level since February 10 at $1,831.30 an ounce, with a weekly gain of 3.6%.
Canada loses over 200,000 jobs in April
The Canadian Department of Labour revealed adding more than expected jobs were lost during April, and unemployment rose.
Data showed that the Canadian economy has lost 207,100 jobs during April, after adding 303,100 jobs in March, and worse than forecasts of losing 160,000 jobs.
The unemployment rate rose to 8.1% in April from 7.5% in March, while analysts forecast a rise to 7.8%.
US economy adds less than expected new jobs, unemployment rises
The US Department of Labor revealed adding less than expected new jobs during April, and unemployment rose due to slowdown in employment in several US sectors, including transportation and storage.
Data showed that the US economy has added 266,000 jobs during April, worse than forecasts of 990,000 jobs.
The US unemployment rate rose to 6.1% in April from 6% in March, while analysts forecast a drop to 5.8%.
Employment in the country is still less by about 8.2 million jobs, or 5.4% than its pre-pandemic levels in February 2020.