Daily Market Report
➢ Gold rebounds on Friday, reversing part of Thursday’s NFP-driven losses amid dip-buying
interest and USD weakness.
➢ US Dollar struggles despite upbeat Nonfarm Payrolls data, as fiscal concerns over Trump’s $3.4
trillion tax-and-spending bill weigh on sentiment.
➢ Trade tensions resurface, with Trump planning to notify trading partners about tariffs ahead of
the July 9 deadline, boosting demand for safe-haven assets.
➢ Fed rate cut bets trimmed after June jobs report showed 147,000 new jobs (vs. 111,000
expected) and unemployment falling to 4.1%.
➢ Slower wage growth (0.2% MoM, 3.7% YoY) slightly eases inflation concerns and keeps the
possibility of two Fed rate cuts alive in 2025.
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