The Nonfarm Payrolls report is the No. 1 market mover, and it comes on the backdrop of a potential wider war in the Middle East. Gold, stocks, and currencies are set to rock to experience high volatility. Live coverage. Join XStreet Premium and ask analysts questions live and Gold alerts, signals and more.
Nonfarm Payrolls set to shape next Fed meeting
Bye-bye to another 50-bps cut? That is the market fear after Jerome Powell, Chair of the Federal Reserve (Fed) said the bank is in no rush to move.
Moreover, leading indicators released ahead of the September Nonfarm Payrolls (NFP) report pointed to a stronger labor market.
Nevertheless, anything can happen, and the wide range of outcomes, from 70K to 220K that banks project for this jobs report means the reaction will likely be followed by extreme moves.
The economic calendar points to an increase of 140K jobs in September.
See this preview: Nonfarm Payrolls Cheat Sheet: Five scenarios for Gold, Indices and Forex
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