US Dollar (DXY) Unchanged on Mixed US NFPs, Gold Grabs a Small Bid
For all high impact data and event releases, see the real-time DailyFX Economic Calendar
You can now download our complimentary Q3 US Forecast below:
Recommended by Nick Cawley
Get Your Free USD Forecast
The June US Jobs Report (NFP) showed 206k new jobs created, compared to forecasts of 190k, but last month’s figure was revised markedly lower from 272k to 218k, a revision of 54k. The unemployment rate nudged higher to 4.1% from a prior reading, and forecast, of 4%, while average hourly earnings met forecasts of 3.9% y/y and 0.3% m/m.
The US dollar is little changed after the release with the dollar index (DXY) trading on either side of 105. US interest rate expectations edged around 4 basis points higher and are currently fully pricing in two, 25 basis point rate cuts this year.
US Dollar Index Daily Chart
Recommended by Nick Cawley
How to Trade Gold
Gold remains in a multi-month range and is testing levels last seen in early June.
Gold Daily Price Chart
Charts using TradingView
What are your views on the US Dollar and gold – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.
