Forex News for North American Trading on May 2, 2025
Market Highlights
- S&P index closes up for the ninth consecutive day.
- Goldman Sachs expects OPEC to announce a 0.41M BPD increase for June.
- The US jobs report released shows positive growth in employment, supporting a solid economic outlook.
Market Overview
- Gold is down $4.80 or -0.15% at $3234.11.
- WTI crude oil is down $0.74 or -1.29% at $58.50.
US Stock Market Performance
The US stock market experienced strong gains:
- Dow industrial average rose 564 points or 1.39% to 41317.43.
- S&P index increased 82.54 points or 1.47% to 5686.65.
- NASDAQ index climbed 66.99 points or 1.51% to 17977.73.
Weekly Performance
- Dow up 3.00%
- S&P up 2.92%
- NASDAQ up 3.42%
US Jobs Report Details
The US jobs report reflects positive trends:
- Non-farm payrolls increased by 177K (expected 130K).
- Unemployment rate remains steady at 4.2%.
- Private payrolls rose by 167K (expected 125K).
- Average hourly earnings increased by 0.2% (below the expected 0.3%).
Household Survey Insights
- Total household employment up by 436K (vs. 201K prior).
- Full-time jobs rose by 305K (vs. 87K prior).
Forex Market Update
The dollar was mostly lower against major currencies:
- Euro: -0.07%
- Japanese Yen: -0.29%
- British Pound: +0.08%
- Australian Dollar: -1.02%
Upcoming Economic Events
- Federal Reserve rate decision on Wednesday, expected to keep rates unchanged.
- Key indicators to watch include:
- ISM Services PMI (Mon May 5)
- Federal Funds Rate (Wed May 7)
- BOE Monetary Policy Report (Thu May 8)
Stay tuned for more updates from ForexLive.com, soon transitioning to investingLive.com for enhanced market insights.
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