Live Coverage: Nonfarm Payrolls set to determine next Gold, stocks and US Dollar moves
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UNLOCK OFFERThe Nonfarm Payrolls report is expected to show slower hiring of 190K in June compared to 272K in May. That would fit into a Goldilocks scenario, which would boost Gold and stocks while weighing on the US Dollar. The Unemployment Rate is set to remain at 4%.
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Why Nonfarm Payrolls rock financial markets
The Federal Reserve (Fed) has two mandates: price stability and full employment. While inflation has been in the spotlight in the past few years, Fed Chair Jerome Powell reiterated that unexpected weakness in the job market would warrant slashing borrowing costs earlier.
ADP's private-sector jobs report and the ISM Services PMI pointed to softer hiring in June, while the JOLTs job opening figures for May surprised with some upside. Some US trades are off after Thursday's Independence Day holiday. That may add to volatility.
Markets are also watching politics. The second round of French parliamentary elections – in which the populsits are expected to remain out of power – and speculation about the viability of US President Joe Biden's candidacy have been encouraging markets.
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The Nonfarm Payrolls report is expected to show slower hiring of 190K in June compared to 272K in May. That would fit into a Goldilocks scenario, which would boost Gold and stocks while weighing on the US Dollar. The Unemployment Rate is set to remain at 4%.
FXStreet Premium allows subscribers to participate in the coverage and ask analysts questions live.
Why Nonfarm Payrolls rock financial markets
The Federal Reserve (Fed) has two mandates: price stability and full employment. While inflation has been in the spotlight in the past few years, Fed Chair Jerome Powell reiterated that unexpected weakness in the job market would warrant slashing borrowing costs earlier.
ADP's private-sector jobs report and the ISM Services PMI pointed to softer hiring in June, while the JOLTs job opening figures for May surprised with some upside. Some US trades are off after Thursday's Independence Day holiday. That may add to volatility.
Markets are also watching politics. The second round of French parliamentary elections – in which the populsits are expected to remain out of power – and speculation about the viability of US President Joe Biden's candidacy have been encouraging markets.
Live financial market coverage
FXStreet covers major economic releases in a live blog format, to provide readers an instant verdict of the data, rapid analysis of key assets, and for Premium members, the abilty to ask our experts questions in real time.
FXStreet Premium
FXStreet Premium provides subscribers access to analysts, exclusive actionable analysis, signals, Ed Ponsi's webinars, trade plans and a bullish/bearish indicator for Gold on critical events. Join FXStreet Premium here.
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