US non-farm payroll grew 75k in May, well below expectation of 180k. monthly job gains have averaged 164k in 2019, notably lower than 223k monthly average in 2018. Unemployment rate was unchanged at 3.6% while participation rate was unchanged at 62.8%. Average hourly earnings rose 0.2% mom, below expectation of 0.3% mom.
Dollar is sold off immediately after the release. In particular, EUR/USD breaks yesterday’s high of 1.1309 to resume the rally from 1.1107. Further rise should now be seen towards 1.1448 key resistance next.
