Forex Today: The US labour market remains centre stage with NFP Revision

Pablo Piovano FXStreet

The US Dollar (USD) added to Friday’s decline as investors continued to assess the latest NFP figures, while expectations of extra rate cuts by the Federal Reserve kept the currency under scrutiny.

Here's what to watch on Tuesday, September 9:

The US Dollar Index (DXY) slipped back to the area of multi-week lows near 97.50 amid the continuation of the bearish leg and extra retracement in US yields across the curve. The NFP Annual Revision will be in the spotlight, seconded by the NFIB Business Optimism Index and the weekly report on US crude oil inventories by the API.

EUR/USD traded with modest gains and challenged the upper end of its range around 1.1750. The ECB’s Montagner and Machado are due to speak.

GBP/USD rose for the second day in a row and confronted once again the key resistance area near 1.3550. The BRC Retail Sales Monitor is only due across the Channel alongside the speech by the BoE’s Breeden.

USD/JPY kept its erratic performance, revisiting the 148.50 zone, but losing momentum afterwards. The Machine Tool Orders will be published on the Japanese calendar.

AUD/USD climbed further, hitting seven-week highs just pips away from the 0.6600 barrier. The Westpac Consumer Confidence Index is due in Oz, followed by the NAB Business Confidence gauge.

WTI prices rose marginally past the $62.00 mark per barrel, reversing three consecutive daily pullbacks as traders digested the OPEC+ output hike.

Gold climbed further north of the $3,600 mark per troy ounce, reaching all-time highs on the back of steady prospects for further rate cuts by the Fed in the next few months. Silver prices navigated above the $41.00 region, revisiting levels last seen 14 years ago.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

AUD/USD eyes 0.7150 barrier nine-day EMA

AUD/USD inches higher after registering modest losses in the previous day, trading around 0.7130 during the Asian hours. The technical analysis of the daily chart indicates that the pair is moving sideways within the rectangle pattern, suggesting a consolidation as neither the bulls nor the bears have enough momentum to take control of the market.

USD/JPY trades below 160.00 intervention threshold; bullish bias intact

The USD/JPY pair attracts some sellers during the Asian session amid fears that authorities will step in again to prop up the Japanese Yen. Furthermore, the Israel-Lebanon truce prompts some profit-taking around the US Dollar and exerts downward pressure on the currency pair.

Gold defends 200-day SMA at $4,425, but for how long?

Gold is attempting a tepid recovery toward $4,500 early Thursday, as renewed optimism in the Mideast geopolitical front calms market nerves. This cautious optimism across Asian markets weighs on Oil prices, and diminishes the US Dollar’s safe-haven appeal, helping Gold stage a decent comeback from the weekly low of $4,424.

Hyperliquid: ETF demand, capital rotation fuel HYPE rally as Bitcoin melts

Hyperliquid price sustains an upward trend near its all-time high of $75.76 on Thursday after posting 80% gains in May, while Bitcoin (BTC) retraces below $65,000, triggering a market-wide panic.

Kevin Warsh takes the Fed helm: What it means for the US Dollar

The Federal Reserve moves away from the highly predictable "forward guidance" model of the Jerome Powell era to a new “Kevin Warsh environment”, characterized by less communication, more policy surprises, and an increased focus on the Fed's complex balance sheet.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.