Non-farm payrolls unexpectedly cool! Is a rate cut in September secured?
The U.S. job market suddenly hit the brakes, with only 73,000 new jobs added in July, nearly 40,000 less than expected! Even scarier is that the data for the previous two months was revised down by 258,000!
Gold surged by $38 in 15 minutes as the probability of a rate cut in September soared to 75%.
Key points to watch next:
1️⃣ 8/12 U.S. CPI data
2️⃣ 8/22 Jackson Hole central bank annual meeting
3️⃣ 9/5 Non-farm payrolls data
4️⃣ 9/18 Federal Reserve decision
