Live Coverage: Nonfarm Payrolls may intensify downturn fears, boost Gold, hit stocks

📆 02/08/2024 08:40:00
📰 FXStreetNews

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Nonfarm Payrolls data may show a weaker US labor market, raising rate cut expectations – but also exacerbating fears of a downturn.

The all-important jobs report is set to rock Gold, stocks and all currencies. Join XStreet Premium and ask analysts questions live, get instant actionable analysis, Gold alerts, signals and more. Why Nonfarm Payrolls may trigger a different reaction this time The Federal Reserve conveyed a message that a soft landing is coming – a gradual return of the US economy to steady growth, without inflation.

Gold would benefit from a weak report, which would indicate rate cuts, while the US Dollar needs extreme data to rise. A super-strong NFP would increase rate hike expectations, buoying the Greenback, while a horrible outcome would trigger safe-haven flows toward the US Dollar. Only a balanced increase in jobs would hurt the currency.

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Live Coverage: Nonfarm Payrolls set to determine next Gold, stocks and US Dollar movesNonfarm Payrolls data are set to show slower hiring in June 2024 – 190,000 vs.
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