🚨🚨🚨Urgent: U.S. employment data released.. Gold loses its gains and the dollar rises strongly
💥U.S. employment data was released a few minutes ago confirming the strength and resilience of the U.S. labor market.
📝 The NFP employment report recorded the addition of 139,000 jobs, exceeding expectations of 126,000 by 13,000 jobs. Meanwhile, the unemployment rate remained steady at 4.2% with no change. As for the average annual wages, they rose to 3.9%, surpassing Dow Jones expectations of 3.7%.
📈Minutes after the data was released, gold lost its gains of 0.2% and shifted to a continued decline of 0.01%, trading at $3,376 per ounce, down by 0.01%, while spot gold contracts (bullion) traded at $3,352.78 per ounce, down by 0.02%.
📉Meanwhile, the U.S. dollar index rose by 0.44% to 99.135 against a basket of foreign currencies.
🌟The data is positive for the dollar as it gives the Fed more time and ability to maintain high interest rates without lowering them, contrary to the wishes of U.S. President Donald Trump.
