Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Rich Asplund

Dollar Fades Early Gains as Stocks Rally

United States ECB Muller British Pound US Federal Reserve

The dollar index (DXY00) on Friday fell by -0.16%.  The dollar on Friday gave up an early advance and posted moderate losses.  A sharp rally in stocks Friday curbed liquidity demand for the dollar.  Also, strength in GBP/USD Friday weighed on the dollar after the British pound rallied to an 11-month high.   The dollar Friday initially moved higher as the better-than-expected U.S. Apr payroll report may prompt the Fed to keep interest rates higher for longer. 

Friday’s monthly U.S. payroll report was bullish for the dollar.  Apr nonfarm payrolls rose +253,000, stronger than expectations of +185,000.  Also, the Apr unemployment rate unexpectedly fell -0.1 to a 54-year low of 3.4%, showing a stronger labor market than expectations of an increase to 3.6%.  In addition, Apr average hourly earnings rose +0.5% m/m and +4.4% y/y, stronger than expectations of +0.3% m/m and +4.2% y/y.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
More Than 37,000 Squishy Toys Recalled as Water Beads Inside Can Swell in a Child and Evade X-Rays
About 37,480 squishy toys with water beads are recalled. Learn the warning signs of ingestion and why X-rays may miss swallowed beads.
Medical Daily
Medical Daily
Is Store-Bought Rotisserie Chicken Actually Healthy? Here’s What to Check on the Label
A grocery store rotisserie chicken can make dinner easier without the cost of takeout or the work of cooking from scratch. It provides protein and can be used in salads, sandwiches, soups, and family meals throughout the week. However, not every rotisserie chicken has the same nutritional profile. Some contain…
Grocery Coupon Guide
Grocery Coupon Guide
Why Are Eggs Refrigerated in America but Left on the Shelf in Other Countries?
Walk into a grocery store in the United States, and you will find eggs in a refrigerated section. Visit many European grocery stores, however, and eggs may sit on ordinary shelves at room temperature. This difference often surprises American travelers who wonder why the same food requires different storage methods.…
Grocery Coupon Guide
Grocery Coupon Guide
Kim Kardashian Reveals Five Nannies for Four Kids as Kanye West and Bianca Censori Step Out in Los Angeles
Kanye West and Bianca Censori were seen with Playboi Carti at ComplexCon in Los Angeles, shortly after Kim Kardashian discussed raising their four children and using five nannies.
International Business Times UK
International Business Times UK
Woman says a male canvasser knocked at her door and wanted to talk pro-life. Then she asked him: ‘Have you ever been pregnant?’
She explained why she is pro-choice.
We Got This Covered
We Got This Covered
Doing Everything Right but Still Have Dull Skin? Here’s Why
If this sounds familiar, it doesn't necessarily mean your skincare routine is bad. Healthy-looking skin depends on much more than the products sitting on your bathroom shelf. Dead skin-cell buildup, dehydration, sun exposure, irritation, lifestyle factors and even using too many active ingredients can all affect how your skin looks.…
MyLifeXP
MyLifeXP
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play