US dollar weakens after poor job data, Euro falls due to political uncertainty in France.

From Investing.com: 2024-07-08 06:30:00

In the US, job data suggested a slowdown in private sector hiring, leading to bets of two Fed rate cuts this year. The unemployment rate also rose, prompting expectations for easing monetary policy. Fed Chair Powell’s testimony and CPI data will be key this week in confirming these expectations. Meanwhile, the Euro saw a gap down as the French election resulted in a hung parliament, adding to uncertainty in the region. Despite this, Wall Street hit fresh records, with gold rising and oil pulling back on hopes of a ceasefire in the Middle East.



Read more at Investing.com: US Dollar Slides on Jobs Data, Euro Dips on French Gridlock