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.
BREAKING: USD extends gains to 1% after the FOMC Conference
BREAKING: EURUSD down 0.4% after the FOMC!
Daily Summary: Will the Fed shake the market?
Warsh to bring back lower rates?