US non-farm data has a positive impact while the US dollar fell back Gold rebounded significantly after hitting the bottom

US non-farm data has a positive impact while the US dollar fell back

Gold rebounded significantly after hitting the bottom

The strong recruitment campaign in September brought last week to a successful conclusion, and the US GDP growth in the third quarter is likely to be close to 5%. After the release of non farm data, the US stock market initially fell, but began to rebound in the late morning, and the US dollar index began to significantly decline and adjust. Last Friday (October 6), the yield of the 10-year treasury bond soared to 4.89%, but the weekly increase was slightly reduced. Gold prices rose slightly on Friday, helped by a technical rebound after nine consecutive days of decline. However, strong US employment data sparked concerns about another interest rate hike in the US, extending the second week of decline in gold prices. After investors weighed economic data and its impact on global fuel demand, oil prices recorded their largest weekly decline in over six months.

According to the non farm report, employers added 336,000 job positions in September, about twice the expected increase; The employment growth in July and August increased by 119,000. This has led to the soaring yield of US treasury bond bonds and raised the possibility of the Federal Reserve raising interest rates again, because the current yield is not enough to slow economic growth.