U.S. Job Data Is Worse Than Expected, Dollar Dips – 6 June, 2019

In its smallest monthly gain in nine years, U.S. job data’s worse than expected results caused the dollar to drop to its worst week since March, while the euro held gains. Rising U.S. rate cut expectations as well as worsening U.S.- China trade woes hurt businesses growth and their confidence in the market. The dollar was steady against six major peers after hitting an eight week low of 96.749, closing its last session 0.3% higher to 97.042. In its worst weekly loss since March, the dollar index was on course for a 0.72% loss this week, not far from the 0.73% it shed a few months ago. Set for a weekly gain of 0.9%, the euro dipped slightly to $1.1269, down 0.05% but still on track for its best weekly gain against the dollar since September. Against the yen, the dollar gained 0.05% to 108.47 yen.