US June Nonfarm Payrolls Miss Forecast, Trim Fed Rate‑Hike Odds

Nonfarm payrolls in the United States rose by 57,000 jobs in June, well below analysts' expectations. The unemployment rate fell to 4.2% against a forecast of 4.3%. Analysts said the weaker job count could lead the Federal Reserve to adopt a more flexible rate path, and the probability of a September rate hike slipped from 67% to 63%.

The data pushed the 10‑year Treasury yield up 11 basis points to 4.49%, while the dollar index slipped about 0.5% to 100.8. Lower dollar pressure boosted precious metals, with silver gaining 5.9% and palladium 5.4% on the day. Base‑metal prices moved modestly: copper rose 0.5%, aluminum 3.5%, nickel 2.4%, zinc 1.3%, while lead fell 0.7%.

Energy markets were mixed. Brent crude fell 2.1% to around $72 a barrel as geopolitics improved, whereas U.S. natural‑gas prices rose 0.4% on higher domestic demand from a heat wave.