The recent reading from the US labor market showed a significant increase compared with market forecasts. The Non Farm Employment Change rise 273k (est. 175k). Average Hourly Earnings rose 3% and Unemployment Rate falls to 3.5%.
The Fed may want to wait for further developments of the current situation, settling with only one interest rate cut in the near future. The better than expected data could initiate an upward move on dollar and gold.
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