Forex News: U.S. Dollar Edges Higher Amid U.S. Jobs Data

U.S. Dollar Edges Higher Amid U.S. Jobs Data Release While U.S.-Iran Deal Delays

(RTTNews) - The U.S. Dollar value moves higher as investors await the details on a final deal between the U.S. and Iran while fresh attacks by Houthis on Saudi Arabian vessels in the Red Sea renewed supply disruption concerns. In addition, weekly unemployment claims data hinted at a brisk labor market.

Today, the U.S. Dollar Index DXY which measures the Greenback against a basket of other major currencies was last seen trading at 99.95, up by 0.30 (or 0.30%).

In the U.S. today, the Labor Department's data showed that the number of people claiming unemployment benefits inched higher by 1,000 to 199,000 over the final week of July, slightly under market expectations of 202,000 to remain near the 57-year low of 188,000 two weeks prior. The numbers indicate strong momentum in the labor market.

Continuing jobless claims increased to 1,801,000 for the week ending July 25 of 2026 from 1,777,000 of the previous week.

Challenger, Gray, and Christmas, Inc., data showed that employers announced 33,429 job cuts in July 2026, the fewest in two years, down 27% from June and 46% compared with the same month last year.

While against the Euro, the USD was trading at 1.152, up by 0.26%, against the GBP, the USD was trading at 1.345, up by 0.12%.

Against the USD, the Japanese Yen was trading at 158.458, down by 0.46%, the Swiss Franc was trading at 0.813, down by 0.67%; and the Canadian Dollar was trading at 1.401, down by 0.04%.

Against one unit of Australian Dollar, the USD was trading at 0.703, up by 0.36%.

According to the Australian Bureau of Statistics, Australia unexpectedly posted a trade surplus of AUD1.93 billion in June, recovering from a downwardly revised AUD2.37 billion deficit in the previous month and defying market expectations of an AUD1.1 billion deficit, as exports rose while imports fell.

Goods exports grew 9.60% month-on-month goods to an over-three-year high of AUD47.70 billion in June while goods imports edged down 0.20% month-over-month to AUD46.76 billion.

In the conflict between the U.S. and Iran which began on February 28, on Tuesday, U.S. President Donald Trump stated that talks were moving on very nicely and a deal to reopen the Strait of Hormuz was imminent.

Reuters reported that Iran warned gulf states it could target their oil, power, and water infrastructure if they fail to convince Trump to end any planned strikes on Iran and stick to diplomatic route to resolve the crisis.

While no breakthrough announcement on a U.S.-Iran agreement have emerged so far, reportedly Iran is on the verge of closing a deal with Oman over the management of shipping traffic across the Strait of Hormuz.

The two sides agreed on the geographical parameters including the coordinates for shipping routes.

Meanwhile, Iran-backed Houthi militant group of Yemen, claimed to have precisely hitting a Saudi Arabian oil tanker, "Wafa" with ballistic missiles, north of Red Sea, off the Yanbu region.

Later, the group announced striking another Saudi tanker "Daisy" in the Gulf of Aden.

Following this new escalation, due to renewed supply disruption concerns, crude oil prices surged.

Currently, investors are betting on a 54.70% chance of a 25-basis-point interest rate-hike in the upcoming meeting of the U.S. Federal Reserve on September 15-16 while the odds on rates being held at the current level stand at 45.30%, according to the CME Group's FedWatch Tool.

Today's economic data releases in the U.S. suggest that the Fed could turn its attention more on combating high inflation which has remained above the 2% target.

Analysts are anticipating tomorrow's U.S. employment report for July to derive clues on the Fed's interest rate path.

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