Gold falls back after strong jobs data boosts rate hike bets; CPI in focus
Gold erased earlier gains after a strong US jobs report raised rate hike expectations, with traders now focused on the upcoming CPI data.
Gold erased earlier gains after a strong US jobs report raised rate hike expectations, with traders now focused on the upcoming CPI data.
Economic calendar for September 7-11 with ECB meeting, U.S. inflation data, and Australian consumer sentiment.
UK permanent hiring increased for the first time since September 2022, while a strong US jobs report raised the odds of a Federal Reserve rate hike.
South Korean stocks and won rallied on AI chip demand, while Japan's Nikkei rose but the calmer markets narrative conflicts with Wall Street's decline.
Goldman Sachs says next week's inflation data, not the strong jobs report, will decide the Fed's September move. It expects a benign CPI to hold rates steady.
Cleveland Fed's Beth Hammack said it is time to act on inflation; investors now price slightly above 60 percent odds of a September rate hike.
Bitcoin slid below $80,000 after a stronger-than-expected US jobs report, with traders seeing roughly 50-60% odds of a Fed rate hike in September.
Cleveland Fed President Beth Hammack says Fed policy is not restrictive enough and argues for rate hikes to control inflation.
S&P 500 edges lower, Nasdaq gains after strong jobs report. Both indices trade above key moving averages, but August highs remain resistance.
Trump demands lower rates, threatening to halt trade with deficit countries.
US non-farm payrolls rose 162K in August, well above the 56K expected, while the unemployment rate held at 4.1%.
US and Canadian non-farm payrolls reports are due shortly. Markets focus on USD/JPY trading, fixed income yields, and Canada's employment after BOC held rates.
Eurozone retail sales fell 0.6% m/m in July; markets trade sideways ahead of US NFP data.
Retail traders lost money after relying on economic calendar impact labels, which fail to account for context and unscheduled events.
Analysis of forecast distribution for US non-farm payrolls, unemployment rate, and average hourly earnings data.