US Jobs Data disappoints the market

03 July 2009 @ 09:06 am EDT

U.S. Dollar Trading (USD) had its largest rally in two months as risk aversion spiked higher after weak US jobs data put the recovery story in doubt. Oil slipped over 4% as less jobs indicates consumer demand should remain weak. June Non Farm Payrolls at -467k (F.-360k) and Unemployment Rate at 9.5% vs. 9.6% forecast. Crude Oil closes down $2.58 to close the day at $66.73. In US share markets, the Nasdaq was down 49 points or -2.67% and the Dow Jones was down -223 points or -2.63%. Looking ahead, July 4th Holidays.

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