The US Dollar Index (DXY), which tracks the performance of the US Dollar against six major currencies, is trading at 107.83 after the US Nonfarm Payrolls (NFP) report. Once again, the rule of thumb proves that buying the rumor and selling the fact pays off. With market expectations too high, betting on a weaker result, a knee-jerk reaction occurred and prevented the DXY from falling below 107.35. The actual Nonfarm Payrolls data came in at 143,000, below the consensus of 170,000, compared to 256,000 in December. The range of estimates was between 105,000 at the low end and 240,000 at the...
WTI crude oil surges as US labor market data fuels demand optimism.Nonfarm payrolls miss expectations, but wage growth remains strong.Labor force participation rate edges higher, supporting energy demand outlook.The West Texas Intermediate (WTI) crude oil prices climbed on Friday to around $70.80, buoyed by renewed optimism over energy demand following the latest US labor market report. While Nonfarm Payrolls (NFP) data revealed a weaker-than-expected 143K job additions in January, the overall labor market resilience and steady wage growth helped drive crude prices higher. Despite the soft...
Gold gains as traders react to President Trump's threat of new reciprocal tariffs, enhancing its safe-haven status.US Nonfarm Payrolls fall short of expectations, yet a declining Unemployment Rate suggests a resilient labor market.PBoC's increased Gold reserves and cautious comments from Fed officials contribute to the metal's price dynamics.Gold resumed its uptrend on Friday amid the escalation of the trade war between the US and China and a mixed US employment report. The XAU/USD trades at $2,862, up 0.24%. US President Donald Trump's plans to announce reciprocal tariffs on many countries...