The dollar drops after the jobs report whiffs

The dollar dropped after the jobs report whiffed.

The US dollar index was down by 0.4% at 96.77 at 9:02 a.m. ET after drifting little changed ahead of the report.

The Bureau of Labour Statistics reported the US economy added 138,000 nonfarm jobs in May, which was below economists’ expectations of 182,000.

The unemployment rate ticked down to a new post-recession low of 4.3%, while participation in the labour force fell to 62.7% from 62.9%.

Check out the full rundown on the US jobs report here.

As for the rest of the world, here’s the scoreboard as of 9:06 a.m. ET:

  • The euro is up by 0.4% at 1.1259 against the dollar. Earlier, data showed eurozone PPI was flat month-over-month in April, below expectations of a 0.3% uptick.
  • The British pound is little changed at 1.2872 against the dollar after construction PMI came in at 56.0 in May, above expectations of 52.7.
  • The Russian ruble is down by 0.3% at 56.5781 per dollar as oil gets whacked. Brent crude oil, the international benchmark, is down by 2.2% at $US49.52 per barrel.
  • The Australian dollar is up by 0.4% at .7406 per dollar.

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