Dollar Loses Ground After Lower-Than-Expected May Hiring -- Market Talk

Dow Jones06-04

0848 ET - U.S. private-sector hiring misses forecast by a lot, weighing on the dollar. ADP reports job creation in May at 37,000, the lowest level since March 2023. It is down from 60,000 in April and WSJ consensus of 110,000. Trump cites the report on social media to call on Fed Chair Powell to cut interest rates. The data comes as markets sensed that hiring has been weakened by tariff uncertainty. The May payrolls report, due Friday, is expected to also show a slowdown. The dollar was hovering around yesterday levels and plunged after the data. The WSJ Dollar Index falls 0.2%. The greenback weakens 0.2% against the yen and 0.3% versus the euro. (paulo.trevisani@wsj.com; @ptrevisani)

(END) Dow Jones Newswires

June 04, 2025 08:48 ET (12:48 GMT)

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