Live Coverage: Nonfarm Payrolls to shape Fed decision, shake Gold, Stocks, US Dollar

Nonfarm Payrolls are always critical – and it comes into sharper focus ahead of the last Fed decision of the year, which includes forecasts for 2025. Will they disappoint once again?

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Nonfarm Payrolls impacts plans for 2025

The new Donald Trump administration is taking shape, and is set to rock markets with tax cuts that markets like, and tariffs they dislike. Higher levees push inflation higher, and may lead to rate hikes.

The Federal Reserve (Fed) has tried to remain away from politics, and sticks to its "data-dependent" mantra. Fed Chair Jerome Powell and his colleagues have shifted their focus to the labor market, and Nonfarm Payrolls is the No. 1 employment figure.

The previous report was poor, but it came on the backdrop of hurricanes and strikes, which skewed the data. It will likely be better this time, but by how much?

Fed officials will use the data to decide on interest rates later this month – and their forecasts for 2025. Markets shifted their thinking on rate cuts after Trump's victory, and now expect fewer rate cuts. The NFP will further shape estimates and rock Gold, Stocks and the US Dollar. 

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