US NFP: Hiring in June Surprises with 147,000 Jobs, More Than Expected. What’s Making Moves?

US dollar, for one, rallied across the board as that number suggested the economy wasn’t in a majestic shape. A better-than-expected shape — yes. But maybe not worth a cut yet.

📊 US Job Growth Ticks Up in June

• The US labor market showed it still got fight left, even in the heat of the summer, with nonfarm payrolls USNFP adding 147,000 jobs in June — well above the 120,000 economists had penciled in.
• The Bureau of Labor Statistics also revised May’s number slightly higher, bringing last month’s print up to 144,000 — showing an economy that’s cooling, but not cracking.
• Unemployment edged down to 4.1% instead of the 4.3% some feared — a reminder that despite all the tariff drama and rate cut speculation, America’s job machine isn’t stalling out just yet.

☀️ Dollar Up, Fed Rate-Cut Hopes Down

• The greenback found new buyers after the surprise headline, rallying against major currencies as traders bet the Fed will hold off on cutting at its next meeting.
• With the job market still near what policymakers call “maximum employment,” the Fed’s wait-and-see mode looks justified — especially if higher tariffs keep stoking price pressures.
• Markets now see slimmer odds of a July 29-30 rate cut, though two cuts remain the rough roadmap for 2025 — the timing’s just fuzzier now.

🗽 Stocks Looking Dapper Ahead of Shortened Sesh

• US stock futures nudged higher in Thursday’s early trade after the upbeat jobs data, but the reaction was modest with traders already eyeing the exit for the holiday weekend. For the record — stocks are logging records.
• It’s an early close for US equities on Thursday, while the bond market also shutters early ahead of Friday’s July 4th break — fireworks on Main Street, not Wall Street.
• Next up: all eyes stay on inflation data and tariff updates to see if the labor market’s resilience can hold up through the summer heat.