The US private sector added about 497,000 jobs in June, according to figures released moments ago by the ADP, after adding about 267,000 jobs in the revised May reading, while expectations were for the addition of 226,000 jobs, while the annual wage rate increased by 6.4%.
In the details, the commodity production sector added about 124,000 jobs, as the construction sector added about 97,000 jobs, while the manufacturing sector lost 42,000 jobs, while the services sector, which includes the sectors of trade, transportation, utilities, activities, and information, added about 373,000 jobs.
The US dollar reacted positively, rising from its lowest levels during the session at 102.60 levels, and is now trading at 103 levels, up by more than 0.40%.
The US Federal Reserve minutes of its meeting two weeks ago, issued yesterday evening, Wednesday, showed that the US Federal Reserve members preferred to maintain a strict monetary policy policy to achieve the committee’s goals, and that they, with the decision of additional interest rate increases in the current year, raised market expectations of the US Federal Reserve raising interest by 25 basis points. In the July meeting, it reached more than 90% to support the gains of the US dollar and the declines of gold and major currencies.
01/11/2024
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