The US dollar index (DXY) took a good hit Friday night and EUR bounced:
AUD jumped against developed markets (DMs)
And was mixed against emerging markets (EMs):
CNY remained soft:
Gold fell, oddly:
As did oil:
And base metals:
Big miners did better:
And EM stocks:
But not junk:
Treasuries were bought:
And bunds:
Italy sucks:
Finally, stocks launched:
Pure Goldilocks US jobs were the driver (charts from Calculated Risk):
Total nonfarm payroll employment increased by 213,000 in June, and the unemployment rate rose to 4.0 percent, the U.S. Bureau of Labor Statistics reported today. Job growth occurred in professional and business services, manufacturing, and health care, while retail trade lost jobs.
The change in total nonfarm payroll employment for April was revised up from +159,000 to +175,000, and the change for May was revised up from +223,000 to +244,000. With these revisions, employment gains in April and May combined were 37,000 more than previously reported.
In June, average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $26.98. Over the year, average hourly earnings have increased by 72 cents, or 2.7 percent.
Headline was good:
Year on year gains are strong:
UE rate climbed with participation:
Shadow slack is still available:
Wage gains are trending higher but were flat on the month:
Good enough to keep the Fed on track but not so strong as to accelerate hikes nor threaten profit margins. Perfect!
