|Day's range||0.8620 - 0.9570|
|52-week range||0.3980 - 2.1740|
US employers unexpectedly added 2.5m jobs in May, sending the jobless rate down to 13.3 per cent and easing worries over the damage inflicted by the coronavirus crisis on the world’s largest economy. The improvement in the labour market will revive hopes that the US may experience a more rapid economic bounceback from the virus emergency than feared by many economists and officials. Federal Reserve officials had warned of further job losses on top of those experienced in the first two months of the pandemic and cautioned that a full recovery may not materialise until the end of next year.
The May jobs report showed an unexpected rise in the number of non-farm payrolls in the economy and a drop in the unemployment rate from April.
Knowing what industries are hiring will give investors insight into what sectors of the stock market could recover factor.
Stocks struggled to cobble together a fifth straight day of gains as data showed new unemployment claims totaled another 1.877 million last week.
The yield on benchmark 10-year Treasury note hits an eight-week high as hopes of an economic rebound perk up markets.
One positive holding gold prices in place is demand for the world’s largest gold-backed ETF, SPDR Gold Trust.
The euro jumped to a 12-week high against the dollar on Thursday after another shot of European Central Bank stimulus to help economies slammed by the coronavirus pandemic, but world equity markets pulled in the reins after a strong seven-day run. The euro rallied for an eighth straight session after the ECB said it would increase the size of emergency bond purchases by 600 billion euros ($674 billion) to 1.35 trillion euros, more than the 500 billion-euro increase analysts had expected. A huge domestic support package from Germany also lifted the euro and briefly pushed European equities higher..
Stocks rose, tracking advances in global equities as investors eyed stabilizing economic data alongside ongoing protests across the country, which spurred some concerns of a ramp-up in coronavirus cases following a deescalation in the outbreak.
Stocks turned positive Monday morning, steadying against a backdrop of protracted protests in some of the nation’s largest cities, many of which had already been struggling to reopen amid the coronavirus outbreak.
The dollar had a difficult week, falling against all the major currencies but the Japanese yen and appeared to break out of its recent trading ranges against the euro, Canadian and Australian dollars.
Stocks fell on Friday, extending losses from Thursday’s session as investors eyed renewed tensions between the U.S. and China.
Federal Reserve Chairman Jerome Powell says he is "comfortable" with the central bank’s unprecedented reaction to the economic shock from the COVID-19 crisis.
Stocks edged down Friday morning as ongoing signs of the economic damage from the coronavirus pandemic compounded with fears of rising U.S.-China tensions. A slew of quarterly corporate earnings results came in mixed.
Stock indexes finished mostly higher Friday as Wall Street shook off an early slide, closing out a solid week of gains for the market. The S&P 500 index inched up 0.2% after having been down 0.5%. It ended the week with a 3.2% gain, largely due to a big rally on Monday that offset all of the benchmark index’s losses from earlier in the month.
Stocks cut gains from the pre-market session and opened lower Wednesday, as traders eyed commentary from Federal Reserve Chair Jerome Powell.
The pace and shape of the U.S. economic recovery when the novel coronavirus outbreak abates is still highly uncertain and will vary across the country, Atlanta Federal Reserve President Raphael Bostic said on Tuesday.
The April U.S. jobs report is expected to shatter records when it comes to measuring the coronavirus’s impact on the domestic labor market.
The U.S. government has opened the spigots and let loose nearly $3 trillion to try to rescue the economy from the coronavirus outbreak — a river of debt that would have been unthinkable even a few months ago. With the U.S. economy in a frightening free-fall, they say, the government has no choice but to pour trillions into an emergency operation. What's more, the lessons of World War II and the 2008 financial crisis suggest to many that a combination of ultra-low interest rates and eventual economic growth can keep government debts manageable and prevent a budget crisis.
The S&P 500 turned slightly positive Monday as big tech and energy shares rose. The advances helped offset earlier declines spurred as mounting concerns that companies would see lasting damage in the aftermath of the coronavirus pandemic spooked market participants.