The US NFP report for April turned out to be a massive disappointment. Markets expected addition of around 1 million jobs while the actual reading showed a gain of only 266 thousand. US dollar plunged on the release as the report hints that monetary policy tightening is still some time away. Markets are now pricing the first FED rate hike no earlier than mid-2023.
Gold prices benefited from such a weak reading and jumped more than $20 per ounce during the 20 minute period following NFP release. In turn, precious metal trades at the highest level in 3 months.
Source: xStation5
Daily summary: Alphabet shares support sentiments on Wall Street 🗽Oil, precious metals and crypto slide
US grains surge on commodity fund buying 📈 Wheat up 1.5%
Oil dips below $60 amid EIA report🚨Is a sell-off coming?
Gold loses 1% 📉
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
