The U.S. dollar fell against its major counterparts in the New York session on Friday, as jobs data showing a rise in the jobless rate and slower wage growth in February tempered expectations for a 50 basis point hike from the Fed this month.
Data from the Labor Department showed that the unemployment rate rose to 3.6 percent in February from 3.4 percent in January. The unemployment rate was expected to be unchanged.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.