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Gold price rallies to $3,350 after weak US Nonfarm Payrolls report shows just 73K jobs added in July.May–June payrolls revised down by 258K; labor market turmoil supports Fed doves’ push for cuts.Fed funds futures now price 76% odds of a 25 bps rate cut in September.ISM Manufacturing PMI shows sector remains in recessionary territory; UoM Consumer Sentiment deteriorates.Gold price rallies more than 1.50% on Friday following the release of a dismal Nonfarm Payrolls (NFP) report in the United States (US), which showed the jobs market is cooling faster than expected. Also, an escalation of geopolitical risks between Russia and the…

AUD/USD gives up most of its post-NFP gains but remains modestly higher on the day, still on track for its biggest weekly loss since March.The US NFP report showed only 73K jobs added in July, well below the 110K expected.Australia’s Q2 Producer Price Index slowed to 3.4% YoY and 0.7% QoQ, indicating easing input cost pressures.The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) on Friday, giving back most of its earlier gains despite broad weakness in the Greenback following a disappointing Nonfarm Payrolls (NFP) data. The AUD/USD initially surged nearly 70 pips after US jobs data…

For a number of hours leading to the softer than expected US July labour report, USD/JPY was back to trading above the 150.00 level for the first time since early April, Rabobank’s FX analyst Jane Foley reports. Fed dovish hopes resurface on weaker labor report”The outcome of this week’s Fed and BoJ policy meetings contributed to the move with the Fed being widely interpreted as less dovish than expected and the BoJ as less hawkish. The US jobs report has re-charged Fed easing hopes.” “We expect that USD/JPY can extend today’s move lower on a 3-month view, but that assumes…

Silver reverses early losses on Friday after the Nonfarm Payrolls report came in below expectations.The July NFP report showed that the US economy added just 73,000 jobs, well below the 110,000 forecast.The US Dollar weakens across the board after soft economic data raised expectations of a Fed rate cut in September.Silver (XAG/USD) reverses early losses on Friday and climbs back above the $36.50 mark, buoyed by a broad-based sell-off in the US Dollar (USD) after the latest Nonfarm Payrolls (NFP) report surprised to the downside.The July Nonfarm Payrolls (NFP) report delivered a significant downside surprise. The US Bureau of Labor…

Federal Reserve (Fed) Bank of Atlanta President Raphael Bostic noted on Friday that the latest round of US Nonfarm Payrolls (NFP) jobs data, including revisions, is certainly cause for rate conversation at the Fed, but inflation metrics are still an ingoing concern, especially as the Trump administration ramps tariffs up further.Key highlightsJobs data was significant, revisions were the bigger story.Jobs market slowing from strong levels.Still need to determine what trend of hiring will be.Into this week the bigger risk was on the inflation front.Risk on jobs front may be coming into better balance with inflation risks.Bostic doesn’t think jobs data…

The USD/CAD outlook indicates a sudden shift in sentiment. The US economy added only 73,000 jobs in July. Trump imposed a 35% tariff on Canada after the two countries failed to reach a trade deal. The USD/CAD outlook indicates a sudden shift in sentiment after the US released a poor monthly employment report. Nevertheless, fundamentals still point to further weakness for the loonie after Trump imposed a 35% tariff on Canada.  -If you are interested in guaranteed stop-loss forex brokers, check our detailed guide- The US economy added only 73,000 jobs in July. This is almost half of the previous…

Gold surges to $3,350, up nearly 2.0%, following a weaker-than-expected July NFP report.The US economy adds 73K jobs, missing the consensus of 110K.US President Donald Trump’s sweeping tariff executive order renews trade tensions, limiting Gold’s downside.Gold (XAU/USD) surges to $3,350 on Friday after a weaker-than-expected US Nonfarm Payrolls (NFP) report triggers a broad US Dollar sell-off and revives Fed rate cut bets. The yellow metal had been treading water near $3,300 during European trading hours, pressured by a firm US Dollar and the Fed’s data-dependent hawkish stance.However, the disappointing July NFP print triggered a sharp repricing in rate expectations, with…

The Greenback reverses part of its recent pullback on Friday.US Nonfarm Payrolls disappointed estimates at 73K in July.Next on tap on the US docket will be the ISM Manufacturing PMI.The Greenback, when tracked by the US Dollar Index (DXY), rapidly left behind the area of recent lows and slipped back to the vicinity of the 99.00 neighbourhood at the end of the week.Door open to a rate cut in September?Indeed, the index lost momentum after the US economy created 73K jobs iJuly, and the unemployment rate ticked a tad higher to 4.2%, while average hourly earnings—a proxy for inflation—rose to…

EUR/USD jumps over 150 pips, rising from 1.1391 to 1.1556 post-NFP release.The US economy added just 73K jobs in July, well below the 110K forecast.Unemployment Rate ticks up to 4.2%, in line with expectations.The Euro (EUR) reverses sharply against the US Dollar (USD) on Friday after the July Nonfarm Payrolls (NFP) report surprised to the downside, catching markets off guard. The pair had been under pressure throughout the week, trading on the back foot as the US Dollar held firm on robust economic data and hawkish Federal Reserve (Fed) outlook.EUR/USD surges nearly 150 pips from near multi-week lows following the…

USD/CAD reversed its direction and dropped below 1.3800 on Friday.The USD came under strong selling pressure after dismal employment data.Trump administration raised the tariff rate on Canadian imports to 35%.The Canadian Dollar (CAD) erased a portion of its weekly losses against the US Dollar (USD) on Friday following the disappointing July employment report from the US. At the time of press, the USD/CAD pair was trading at 1.3795, losing about 0.5% on a daily basis.USD slumps as markets lean toward a September Fed rate cutThe monthly data published by the US Bureau of Labor Statistics (BLS) showed on Friday that…