FED'S DALY: AI HAVING LIMITED IMPACT ON HIRING/FIRING, UNEMPLOYMENT RATE SO FAR; STILL IN LOW-HIRE/LOW FIRE ENVIRONMENT; JOBLESS RATE STAYING LOW

San Francisco Fed President Mary Daly said that artificial intelligence has so far had only a limited effect on hiring and firing decisions and on the unemployment rate, and that the labor market remains in a low-hire, low-fire regime with the jobless rate staying low. The reading argues against the view that AI-driven displacement is already pushing up unemployment, which would ease concern that a sharp labor slowdown will force faster rate cuts. A firmer labor backdrop supports the dollar through rate-path expectations, since it reduces the probability of near-term easing relative to the euro area, where the ECB faces a weaker growth and inflation trajectory. Nasdaq 100 names tied to AI capital spending may benefit from the implied sustainability of demand, though higher-for-longer rate pricing constrains long-duration growth valuations. The next catalyst is the nonfarm payrolls release, where traders will focus on hiring breadth, the unemployment rate, and average hourly earnings for signs of whether the low-hire, low-fire pattern is holding.

The US Dollar (USD) is the world's primary reserve currency and the base for most forex majors. Headlines about Federal Reserve policy, US macro data (CPI, NFP, GDP), and Treasury yield shifts typically drive USD pair direction within seconds of release.

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