Content and data provided by various third parties and Fidelity - Terms of Use
Print.Print
Small font size A Larger text size A Largest text size A

US Dollar Falls Early Friday Ahead of May Employment Data

BY MT Newswires | ECONOMIC | 07:48 AM EDT

07:48 AM EDT, 06/05/2026 (MT Newswires) -- The US dollar fell against its major trading partners early Friday ahead of the release of May employment data at 8:30 am ET.

Nonfarm payrolls are expected to rise by 88,000 in May after a 115,000 increase in the previous month, while the unemployment rate is forecast to remain at 4.3%, and hourly earnings are forecast to rise by 0.3% after a 0.2% gain.

The St. Louis Federal Reserve is expected to update its Q2 GDP nowcast estimate around midday, followed by consumer credit data for April at 3:00 pm ET.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD rose to 1.1636 from 1.1613 at the Thursday US close and 1.1635 at the same time Thursday morning. Eurozone GDP declined in Q1, slowing the year-over-year pace, while Eurozone employment growth slowed in the same quarter, according to data released earlier Friday. The next European Central Bank meeting is scheduled for June 11.

GBP/USD rose to 1.3469 from 1.3424 at the Thursday US close and 1.3451 at the same time Thursday morning. UK home prices declined in May, though the year-over-year rate accelerated modestly. Bank of England Governor Andrew Bailey is due to speak at 2:00 pm ET. The next Bank of England meeting is scheduled for June 18.

USD/JPY fell to 159.9109 from 160.0224 at the Thursday US close, but was above a level of 159.8291 at the same time Thursday morning. Japanese household spending rebounded in April; however, it was still down from a year earlier, while the Japanese leading index rose at a slower pace in April than in the previous month, according to data released overnight. The next Bank of Japan meeting is scheduled for June 15-16.

USD/CAD fell to 1.3880 from 1.3904 at the Thursday US close and 1.3895 at the same time Thursday morning. Canadian employment data for May are due to be released at 8:30 am ET, followed by the Canada IVEY survey for May at 10:00 am ET. The next Bank of Canada meeting is scheduled for June 10.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

More Fixed Income News

All Fixed Income News

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

© 1998 – 2014 FMR LLC.

All rights reserved.
fir_news_article