US: NFP opens the door to large rate hikes – UOB

Pablo Piovano FXStreet

Senior Economist at UOB Group Alvin Liew reviews the latest release of US Nonfarm Payrolls for the month of September.

Key Takeaways

“The US NFP again exceeded expectations, adding 263,000 jobs in Sep while the unemployment rate unexpectedly eased to 3.5% (from 3.7% in Aug) as labor force participation dipped while the unemployed numbers fell by 261,000 to 5.75 million. Wage growth continued at an expected pace of 0.3% m/m, 5.0% y/y (from 0.3% m/m, 5.2% y/y in Aug).”

“The Sep report pointed to continued hiring momentum and persistent above 5% wage growth in a tight labor market environment, bolstering the case for the Fed to hike rates by a 4th consecutive 75bps in the next Nov FOMC. Attention will now shift to various Fed senior officials speaking this week and Sep CPI (13 Oct), which will shape Fed expectations before Nov’s FOMC.”

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.

EUR/USD: Cautiously optimistic near 1.1550 ahead of the ECB

EUR/USD extends its weekly recovery for the third day in a row on Wednesday, navigating in a sidelined fashion around 1.1550 on the back of humble losses in the US Dollar. In the meantime, market participants continue to closely follow developments in the Middle East while slowly gearing up for the ECB gathering on Thursday.

GBP/USD recedes from tops, hovers around 1.3400

GBP/USD could not sustain the initial bull run and is now slipping back toward the 1.3400 neighbourhood on Wednesday. Cable’s continuation of the ongoing leg higher follows mild selling pressure on the Greenback, despite steady uncertainty on the geopolitical front and elevated US inflation.

Gold bleeding continues as Middle East crisis escalates, Fed hike coming

Gold is accelerating its downward trends and approaches the area of $4,100 per troy ounce on Wednesday, where the 2026 bottom sits so far. The persistent decline in the precious metal almost exclusively follows the swelling opinion that the Fed will keep a cautious stance in H2, a view that was reinforced following earlier US CPI data.

$1,500: Why Ethereum just crashed 20% despite spot markets barely selling

Ethereum (ETH) recently suffered one of its sharpest declines of 2026, dropping more than 20% and briefly testing the $1,500 area. While the sell-off appeared to reflect broader market fears, derivatives and on-chain data suggest a more complex story may be unfolding beneath the surface.

Brutal sell-off: Silver deepens months-long slide, refocusing on $60

Silver has never been known for its calm temperament. The precious metal can spend weeks grinding higher before suddenly giving back months of gains in a matter of days. That volatile reputation has been on full display in recent weeks.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.