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Dollar soars after “monster” U.S. jobs report

Photo: Portofalio.co

February 4ft |

The dollar climbed Friday after data showed U.S. employers created far more jobs in January than economists expected, which could give the Federal Reserve more room to keep raising interest rates.

The Labor Department’s employment report showed that nonfarm payrolls increased by 517,000 jobs last month. The December data was revised upward to reflect 260,000 jobs added, rather than the 223,000 previously reported.

Average hourly earnings increased 0.3%, after rising 0.4% in December. This reduced the year-on-year increase in wages to 4.4% from 4.8% in December. Economists polled by Reuters had expected an increase of 185,000 jobs and a year-over-year advance in wages of 4.3%.

This is a “monster number,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.

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The dollar rose 1.12% to 102.92 units on the day against a basket of currencies, the highest level since Jan. 12 and in its best day since Sept. 23.

The euro fell 0.98% to $1.08040. The dollar gained 1.82% against the Japanese yen to 131.20 units, the highest since January 18 and its best session since June 17.

Sterling depreciated 1.39% to $1.20550, its lowest level since January 6.

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International

Regional mexican music mourns the death of Banda Gota de Oro singer Giovanni Vera

Regional Mexican music is mourning the death of Giovanni Vera, lead vocalist of the band Banda Gota de Oro, who was among the victims of an armed attack that occurred on Sunday, December 28, in the Mexican state of Guanajuato.

The incident took place inside a residence located in the Los Presidentes neighborhood, in the municipality of Irapuato.

According to preliminary reports, several people were gathered at the house when armed men burst in and opened fire on those present. The attack left five people dead, including the singer.

Hours after the shooting, Banda Gota de Oro confirmed Vera’s death through its official Instagram account. In one of the posts, the group expressed its grief with an emotional message: “Today, the sky is dressed for a celebration because you are singing up there. Your voice and your joy will live on forever within us.”

Messages of support and condolences from fans and fellow musicians quickly flooded social media, paying tribute to the artist and expressing solidarity with his family and bandmates.

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One Dead, Three Injured in Shooting at Cree Nation in Saskatchewan

One person was killed and three others were injured in a shooting reported early Tuesday in the Big Island Lake Cree Nation, in the Canadian province of Saskatchewan, according to local media.

Police said they were alerted to the incident in a remote area located approximately 392 kilometers northwest of the city of Saskatoon. Authorities issued a dangerous persons alert for two suspects, who were described as armed.

Saskatchewan police urged residents to seek shelter immediately, lock their doors, and avoid the area while the situation remains under investigation. Officers are working to determine whether the shooting was a targeted attack or a random act of violence.

As a precautionary measure, seven health-care facilities in the surrounding area were placed under lockdown, Saskatchewan Premier Scott Moe said in a post on X.

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International

Mexico’s President Visits Victims After Train Derailment Kills 13 in Oaxaca

Mexican President Claudia Sheinbaum visited on Monday the victims injured in a train accident that left 13 people dead in the southern state of Oaxaca and announced financial assistance for those affected by the derailment of the Interoceanic Train, which was inaugurated in 2023.

The train, carrying 241 passengers and nine crew members, derailed on Sunday while traveling along the Interoceanic Corridor, a major infrastructure project that connects the Pacific coast with the Gulf of Mexico across the Isthmus of Tehuantepec. The corridor was one of the flagship initiatives of former President Andrés Manuel López Obrador’s administration (2018–2024).

Sheinbaum visited three hospitals in the neighboring towns of Tehuantepec and Salina Cruz, where around 20 injured passengers remain hospitalized. She also went to a funeral home to accompany the families of those who lost their lives in the accident.

According to Mexico’s Navy Secretary, Raymundo Morales, the accident occurred when one of the locomotives derailed, causing all four railcars to leave the tracks.

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