Dollar deepens losses after US monthly jobs report

Economies.com
2021-05-07 19:53PM UTC

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.

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