The recent reading from the US labor market showed a significant increase compared with market forecasts. The Non Farm Employment Change rise 273k (est. 175k). Average Hourly Earnings rose 3% and Unemployment Rate falls to 3.5%.
The Fed may want to wait for further developments of the current situation, settling with only one interest rate cut in the near future. The better than expected data could initiate an upward move on dollar and gold.
Daily summary: Weak US data drags markets down, precious metals under pressure again!
US Open: Wall Street rises despite weak retail sales
US2000 near record levels 🗽 What does NFIB data show?
Chart of the day 🗽 US100 rebound continues as US earnings season delivers