DXY Extends Gains After Strong Jobs Report
The US dollar index rose 0.6% to 102.2 on Friday, extending gains after October employment data significantly exceeded expectations. Nonfarm payrolls increased by 165,000, more than double the 65,000 forecast, while the unemployment rate edged down to 4.1%. Job gains were broad-based, led by professional and business services and healthcare, reinforcing evidence of a resilient labour market supported by consumer spending and business investment. The stronger figures strengthened expectations that the Federal Reserve will maintain a restrictive monetary stance, with investors anticipating another interest rate increase in December to contain inflation. Policymakers will receive one more employment report and a full set of inflation data before their next meeting. The dollar also benefited from increased safe-haven demand amid a global equity selloff driven by concerns over AI valuations and tighter regulation.
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The US dollar index rose 0.6% to 102.2 on Friday, extending gains after October employment data significantly exceeded expectations. Nonfarm payrolls increased by 165,000, more than double the 65,000 forecast, while the unemployment rate edged down to 4.1%. Job gains were broad-based, led by professional and business services and healthcare, reinforcing evidence of a resilient labour market supported by consumer spending and business investment. The stronger figures strengthened expectations that the Federal Reserve will maintain a restrictive monetary stance, with investors anticipating another interest rate increase in December to contain inflation.
Policymakers will receive one more employment report and a full set of inflation data before their next meeting. The dollar also benefited from increased safe-haven demand amid a global equity selloff driven by concerns over AI valuations and tighter regulation.