US: Payrolls and average hourly earnings to miss estimates – Goldman Sachs

Dhwani Mehta FXStreet

Economists at Goldman Sachs offer their thoughts on what they expect from August’s NFP report that will be released at 1230GMT today.

Key Quotes:

“While we believe payrolls and average hourly earnings are both likely to miss consensus estimates, we think tomorrow's employment report may be somewhat less important than usual for the monetary policy outlook, because:

Recent data have been firm so we have some room for a miss
The August seasonal issue is now well known so even a somewhat larger miss may not significantly alter the staff view, and
There are several months between now and December to make up for any weakness in Friday's report”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD strengthens above 1.1800 ahead of German IFO data

EUR/USD gains ground for the second successive session, holding well above 1.1800 in the European session on Monday. The US Dollar remains heavy as a 'Sell America' theme returns to the fore amid uncertainty fuelled by US President Trump's latest tariff announcement. German IFO Survey could offer fresh trading impetus.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold clings to gains near monthly peak amid flight to safety and weak USD

Gold sticks to its bullish bias near the monthly peak heading into the European session and looks to build on last week's breakout through the $5,100 mark amid a supportive fundamental backdrop. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Liberation day take two, the tariff machine just changed gears

Let me caveat this from the outset. What we are watching is first-order mechanics, not the grand macro endgame. This is the market’s immediate reflex to a 15% Trump tariff levy dressed up as judicial drama. The Supreme Court blocked Trump tarrif hammer. The White House came back with a scalpel.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.