Gold up $41 to $3586 -- fresh record highWTI crude oil down $1.49 to $61.99US 10-year yields down 10.2 bps to 4.07%S&P 500 down 20 points to 6481CHF leads, CAD lags
It was a tough day on the North American jobs front as both the US and (especially) Canada disappointed, solidifying the case for rate cuts later this month. Both currencies sank significantly on the data but not severely with the loonie slightly underperforming the dollar on the day.
Naturally, gold loved the dovish shift and continued higher to a fresh record.
The price action in equities was less straight-forward as the market initially cheered the possibility of more rate cuts only to turn lower on fears of a recession. Some late equity bids (once again) cushioned the blow and the main US indexes finished higher on the week.
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