🔝Markets await the NFP report

SILVER

Commodities

US500

Indices

USDIDX

Indices

USD gains, US100 down ahead of the NFP report
The consensus sees +200k jobs
The report is crucial for the Federal Reserve

The NFP report consist of multiple data prints with the 3 most important ones being: employment change (expected at +200k), unemployment rate (3,7%) and wage growth (5%). Recent indicators suggest a strong labour market with ADP showing +235k jobs in the private sector, ISM pointing the strongest hiring conditions in manufacturing since August and weekly data showing no signs of increasing number of the unemployed. Still, the NFP report tends to be very volatile so a surprise is never off the cards.

The „new” version of the ADP has been more accurate and it predicts a strong NFP reading. Source: Macrobond, XTB Research

Our comment: a strong report (employment gain at +200k or above, high wage growth) could be seen as USD positive and equity negative as it would reinforce the hawkish stance from the Fed. However, bear in mind that market expect a strong report so a negative surprise in the data could potentially spark a much stronger reaction (potentially weaker USD and gain in US indices).

Silver prices remain in an uptrend but a declining EURUSD is a risk. Silver buyers would like to see a weak NFP report.

29 October 2025, 19:04

Daily summary: Powell is pushing the dollar higher. Now it’s time for Big Tech earnings. 📄

29 October 2025, 18:49

EURUSD falls below 1.16 after Fed 💵

29 October 2025, 18:33

FED Powell Conference (LIVE)

29 October 2025, 18:00

BREAKING: Fed cuts interest rates and will end QT on December 1st 📌

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.

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🔝Markets await the NFP report

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