The dollar rallied across the board on Friday after a stronger-than-expected
U.S. July payrolls report suggested the Federal Reserve may need to continue raising interest rates for the
near term.
Canadian economic activity contracted in July for the first time this year as employment growth slowed and prices cooled, Ivey Purchasing Managers Index data showed on Friday. The seasonally adjusted index fell to 49.6 from 62.2 in June, the first time since December 2021 that the index was below the 50 threshold that marks a decrease in activity.
Canadian economic activity contracted in July for the first time this year as employment growth slowed and prices cooled, Ivey Purchasing Managers Index data showed on Friday. The seasonally adjusted index fell to 49.6 from 62.2 in June, the first time since December 2021 that the index was below the 50 threshold that marks a decrease in activity.
U.S. job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and pouring cold water on fears the economy was in recession. The Labor Department's closely watched employment report on Friday also showed employers continuing to raise wages at a strong clip and generally maintaining longer hours for workers.
The Baltic Exchange's main sea freight index dipped to a near 6-month trough on Friday and registered its worst week in more than two months on weakness across vessel segments.
U.S. job growth surged much more than expected in July and the unemployment rate ticked lower, giving the Federal Reserve enough cushion to stay on its aggressive rate hike path as it tries to tame inflation. Nonfarm payrolls increased by 528,000, the Labor Department's employment report showed on Friday. Employers continued to raise wages at a steady pace last month.
Canada's economy lost a net 30,600 jobs in July, in both full-time and part-time work, Statistics Canada said on Friday. Analysts surveyed by Reuters had expected an increase of 20,000 jobs in July, and for the unemployment rate to increase to 5.0%. Market reaction: CAD/ STORY: Link:https://www150.statcan.gc.ca/n1/daily-quotidien/220805/dq220805a-eng.htm. COMMENTARY.
U.S. Treasury yield rose on Friday after data showed the world's largest economy created far more jobs than expected in July, bolstering expectaions for a big increase to interest rates by the Federal Reserve at next month's policy meeting. Nonfarm payrolls increased by 528,000 jobs last month, the Labor Department said in its closely watched employment report on Friday.
President Tayyip Erdogan said on Friday that meetings between Turkish and Russian delegations had been fruitful and that he would discuss developments in Syria with his Russian counterpart Vladimir Putin during his visit to Russia.
* Nonfarm payrolls increase 528,000 in July. * Unemployment rate falls to 3.5% from 3.6% in June. * Average hourly earnings rise 0.5%; up 5.2% year-on-year. * Participation rate falls to 62.1% from 62.2% in June. By Lucia Mutikani.
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