Live Coverage: First post-Liberation Day Nonfarm Payrolls set to rock sensitive markets

Yohay Elam FXStreet

Are President Trump's tariffs impacting America's labor market? That is a fierce debate that will be partially settled with April's Nonfarm Payrolls report. It will also shake Gold, Stocks and Currencies.

Follow live coverage here on Discord

Join FXStreet Premium to participate in the live coverage, get Gold alerts, access the analysts, and lots more.

Nonfarm Payrolls may show resilience but fail to remove doubts

While the US economy and its labor market are dynamic, companies take their time in adjusting to changes. President Donald Trump's tariffs are intended to boost local manufacturing, but they may hurt importers and retailers selling imported goods.

The big "Liberation Day" announcement came on April 2, but Trump delayed the implementation of some of the duties on April 9. He also exempted consumer electronics from the later week. That is the same week as Nonfarm Payrolls surveys are conducted, and it is probably too early to see the impact.

Nevertheless, ADP's private-sector employment report indicated an increase of only 62,000 positions, well below estimates. And while Gross Domestic Product (GDP) came out negative, that is due to quirks, and under the hood, consumers remain resilient.

What is more certain? High volatility in the interpretation of the data. Stocks and also the US Dollar have been recovering and Gold is off its highs. The relative calm could be broken soon enough.

Live financial market coverage

FXStreet covers major economic releases in a live blog format, to provide readers an instant verdict of the data, rapid analysis of key assets, and for Premium members, the abilty to ask our experts questions in real time.

FXStreet Premium

FXStreet Premium provides subscribers access to analysts, exclusive actionable analysis, signals, Ed Ponsi's webinars, trade plans and a bullish/bearish indicator for Gold on critical events. Join FXStreet Premium here.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

GBP/USD extends the drop to 1.3360

GBP/USD builds on Monday’s decline and briefly clinches five-day lows near 1.3360 on Tuesday. Cable’s extra pullback follows the better tone in the Greenback as uncertainty in the Middle East prompts investors to adopt a cautious stance. Meanwhile, an apathetic UK labour market report also collaborates with the selling pressure on the British Pound.

EUR/USD stays offered just above 1.1400

EUR/USD keeps the downtrend well in place for yet another day, challenging the 1.1400 contention zone on Tuesday. The continuation of the selling impulse in spot comes amid decent gains in the US Dollar, which continues to find support in the persistent effervescence surrounding the US-Iran crisis.

Middle East crisis intensifies, Gold up

Gold now seems to have embarked on a consolidative phase below the key $4,100 mark per troy ounce in the latter part of Tuesday’s session. Meanwhile, uncertainty surrounding the Middle East conflict and rising expectations for a hawkish Fed policy outlook are expected to limit the precious metal’s bullish momentum in the near term.

XRP rebounds on rising on-chain activity

Ripple (XRP) ticks up and trades around $1.13 at the time of writing on Tuesday. This rebound aligns with a broader recovery in the cryptocurrency market, attributed to reports that mediators between the United States (US) and Iran are seeking a 10-day cessation of strikes to find a way back to the signed Memorandum of Understanding (MoU).

The Iranian war has again risen

The Iranian war has again risen to the top of the economics factor list. There is no end in sight. Intelligence experts say the current level of offense/retaliation will not change minds in Tehran, while in Washington, Trump fears all-out war, which would mean boots on the ground.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.