Daily Market Report
➢ Gold prices firm above $3,350, trading near $3,375 as USD remains under pressure after soft
July NFP data.
➢ Markets now price in 85–90% chance of a Fed rate cut in September, up from 37% pre-NFP.
➢ US President Trump fires BLS Commissioner Erika McEntarfer, alleging data manipulation,
sparking credibility concerns.
➢ Fed Governor Adriana Kugler resigns, giving Trump more influence over future Fed
leadership and policy direction.
➢ US Dollar Index stabilizes at 98.78 after Friday’s 1.3% drop; 10-year yield rebounds to 4.23%.
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