On Friday, the U.S. Bureau of Labor Statistics released data showing that the U.S. non-farm payrolls increased by 73,000 in July, significantly below the expected 104,000.
The revisions for May and June were much larger than usual. The total non-farm employment change for May was revised down by 125,000, from the original 144,000 to 19,000; the change for June was revised down by 133,000, from 147,000 to 14,000. After this revision, the total employment numbers for May and June were revised down by 258,000.
Meanwhile, the U.S. unemployment rate rose to 4.2% in July, in line with expectations of 4.2%, up from the previous value of 4.1%.
After the data was released, traders fully digested the scenario of a Federal Reserve rate cut in October.
The U.S. dollar index fell more than 40 points in the short term, currently reported at 99.78. U.S. stock futures dipped slightly, with the Nasdaq 100 futures down 1.1%. The yield on the U.S. 10-year Treasury bond fell in the short term, currently reported at 4.395%. Spot gold surged about $15 in the short term, currently reported at $3,303.62 per ounce.
Updating

- In July, the U.S. non-farm payrolls increased by 73,000, significantly below the expected 104,000.  
- Revisions for May and June showed a downward adjustment of 258,000 jobs combined, with May's figures revised down by 125,000 and June's by 133,000.  
- Following the data release, the unemployment rate rose to 4.2%, and market reactions included a drop in the dollar index and a slight decline in U.S. stock futures.

Wallstreetcn

In July, the United States added 73,000 non-farm jobs, far below expectations, with the data for the previous two months significantly revised down by 258,000