OctaFX | OctaFX Forex Broker
Open trading account

Gold soars above $1130 after big miss in NFP

FXStreet (Córdoba) - Gold jumped after the release of the US Employment report that showed a negative surprise. The value of the ounce rose from 2.40% in a few minutes, climbing from $1105/oz to $1136/oz.

It was trading at $1132, at the highest level since Tuesday and showing a strong recovery after hitting on European hours at $1104.50/oz, the lowest level since September 15.

A decline of the US dollar in the market amid reduced expectations about a rate hike from the Federal Reserve during 2015, boosted the yellow metal. Wall Street futures point to a sharply negative opening.

The official employment report showed that the economy added in September 142,000 jobs, considerably below consensus of 203,000. Previous month’s numbers were revised downwardly by a combined 59,000. The unemployment rate stood at 5.1%.

EURUSD: Draghi speech gave little evidence of stimulus, Euro range to stay - MUFG

Derek Halpenny, Research Analyst at MUFG, notes that ECB President Draghi spoke in New York yesterday but did not touch specifically on the outlook for monetary policy.
Read more Previous

AUD/USD fails to hold gains after NFP

AUD/USD stretched to fresh daily highs but failed to sustain gains despite broad USD weakness on the back of disappointing nonfarm payrolls data.
Read more Next
Start livechat