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📊 Today’s Non-Farm Payrolls (NFP) Data – USD
Average Hourly Earnings m/m:
✅ 0.3% (in line with forecast and previous).
→ Wage growth remains stable, no extra inflationary pressure.
Non-Farm Employment Change:
❌ Actual: 22K vs Forecast: 75K vs Previous: 79K
→ A sharp slowdown in job creation, showing clear signs of a cooling US labour market.
Unemployment Rate:
✅ Actual: 4.3% (in line with forecast, slightly higher than 4.2% previous).
→ Labour conditions are tightening, more people struggling to find jobs.
🔎 Market Implications
US Dollar (USD):
Weak NFP data is negative for the dollar.
Rising unemployment adds pressure on the Fed to cut rates sooner.
Gold (XAU/USD):
Bullish impact: A weaker USD supports gold prices.
With job growth slowing and unemployment ticking higher, the Fed may lean more dovish → this boosts safe-haven demand for gold.
Gold could see strong upward momentum if the market prices in earlier rate cuts.
US Stocks:
Despite weak NFP, stable wage inflation eases concerns about sticky inflation.
Equity markets may react positively on expectations of a softer Fed stance.
📌 Quick Takeaway
Weak NFP = Bearish USD.
Gold benefits, with potential upside momentum.
EUR and GBP may gain on USD weakness.
Equities may enjoy short-term support.
