A strong U.S. Jobs report keeps dollar stable

The positive U.S. employments report released on Friday kept the dollar hovering above the red zone. According to figures shown in the report, the number of domestic jobs for the month of May grew by 230,000. Unemployment rates stood at 3.9 percent –the lowest in 18 years.

The Dollar Index which measures the dollar’s performance against six other important currencies, went higher by 0.5 percent closing at 94.45. The EUR gained strength versus the dollar brushing off lows from the previous session closing at 1.1700.

U.S. and Asian Markets were bullish thanks to the upbeat U.S. Jobs report

Wall Street drew strength from the strong U.S. jobs report. The NASDAQ went higher by 1.5 percent, and finished at 7,554. From a weekly perspective, it was able to advance by 1.6 percent. The S&P 500 added 1.1% to its value and finished the session at 2,734 points. Throughout the whole week, it recorded a 0.5 percent rise. The Dow Jones was able to climb by 0.9 percent settling at 24,653. Nevertheless, from a weekly perspective it went lower by 0.5 percent.

Markets in the Asian region also reaped tidy gains. The Nikkei 225 crossed to the green territory and advanced by 1.03 percent early in the session. Its automaker and shipper sectors performed particularly well. Korea’s Kospi went higher by 0.19 percent. Australia’s S&P/ASX 200 climbed by 0.6 percent.

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