Markets:
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 lagsIt 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.
The Market is now pricing in 47 bps in Canadian easing in the year ahead and 131 bps in the US. Most notably, Fed pricing suggests a 90% chance of a cut at each of the three remaining meetings this year and a slight chance of 50 bps this month.
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.
This article was written by Adam Button at investinglive.com.Hence then, the article about investinglive americas fx news wrap non farm payrolls disappoint again was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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