Live Coverage: Recession? Nonfarm Payrolls to provide guidance and rock Gold, stocks, US Dollar


Nonfarm Payrolls figures for August come after weak data raised recession fears, and as the Fed contemplates a the size of its first rate cut. Gold, stocks and the US Dollar are set for a wild ride. Live coverage. 

Join XStreet Premium and ask analysts questions live and Gold alerts, signals and more. 

 

Why Nonfarm Payrolls eyed with fear and hope ahead of the rate cut

Federal Reserve Chair Jerome Powell said he will do everything he can to support the labor market – a big shift from the focus on inflation. While markets know the Fed will cut rates later this month, the size of the cut is unknown. 

Nonfarm Payrolls have returned to being the No. 1 market mover, and there are fears they could be weak. While the economy calendar points to an increase of 160,000 jobs in August, a weak report from ADP, America's largest payrolls provider, implies a softer outcome. Investors will also see the unemployment rate, which rose to 4.3% in July, as an indicator of the health of the world's largest economy. 

The data comes out at the end of a short and busy week in the US, the "back to school" period after Labor Day. Trading liquidity has risen substantially. 

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.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD fluctuates around 1.0900 as markets await US election exit polls

EUR/USD fluctuates around 1.0900 as markets await US election exit polls

EUR/USD trades sideways near 1.0900 on Tuesday. The US Dollar ignores the upbeat ISM Services PMI data for October and stays under modest selling pressure as investors await exit polls to see who is closer to winning the US presidential election.

EUR/USD News
GBP/USD clings to modest gains near 1.3000, awaits US election result

GBP/USD clings to modest gains near 1.3000, awaits US election result

GBP/USD trades marginally higher on the day at around 1.3000 after finding support near 1.2950 on a broadly subdued US Dollar. Traders eagerly await the outcome of the US presidential election, refraining from placing fresh bets on the major. 

GBP/USD News
Gold holds steady below $2,750 amid US election jitters

Gold holds steady below $2,750 amid US election jitters

Gold attracts dip-buyers after touching a one-week low on Tuesday but remains below $2,750. The benchmark 10-year US Treasury bond yield stays in positive territory above 4.3% as markets eye US election exit polls, limiting XAU/USD's upside.

Gold News
Crypto markets brace for volatility in tight race between Trump and Harris

Crypto markets brace for volatility in tight race between Trump and Harris

The US presidential election is one of the most significant events in the world. Due to the influence of the country’s political decisions, policies, and economic approaches, it can significantly impact crypto and global markets. 

Read more
US election day – A traders’ guide

US election day – A traders’ guide

Election day volatility: Brace for potential wild market swings. Election days bring opportunities, but also risks. Unclear results can increase volatility further.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Majors

Cryptocurrencies

Signatures