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Gold price extended its losses for the second consecutive day on Friday but is poised to finish the week with gains of over 1.30% after the latest Nonfarm Payrolls report in the United States (US) was solid, pressuring traders to trim their bets that the Federal Reserve (Fed) will ease monetary poli

United States Baker Hughes US Oil Rig Count: 442 vs previous 461

Federal Reserve (Fed) Bank of Philadelphia President Patrick Harker is embarking on a farewell tour.

The Australian Dollar (AUD) is weakening against the US Dollar (USD) following Friday’s Nonfarm Payrolls (NFP) pushed back expectations of a near-term interest rate cut from the Federal Reserve (Fed).

GBP/USD tumbled during the North American session, down over 0.30% after the latest jobs report in the United States (US) maintained the status quo, with the economy remaining strong. The pair traded at 1.3526 after hitting a daily high of 1.3586.

United States (US) President Donald Trump took to social media to call upon Federal Reserve (Fed) Chairman Jerome Powell to lower interest rates on Friday.

Like a thief in the night, Silver prices broke through $35/oz. Last time Silver broke this range, it took roughly 6 weeks to trade $50/oz, TDS' Senior Commodity Strategist Daniel Ghali notes.

Despite muted ETF flows and flat Western macro participation, positioning data shows Chinese Gold speculators pushing SHFE Gold to record highs, setting the stage for a potentially range-bound market — with several bullish catalysts looming, TDS' Senior Commodity Strategist Daniel Ghali notes.

Following a quiet beginning to the European session, EUR/USD turned south in the second half of the day and declined below 1.1400. At the time of press, EUR/USD was down 0.55% on the day at 1.1382.

The Japanese Yen (JPY) continues to weaken against the British Pound (GBP) on Friday, with the GBP/JPY pair edging up to near 195.20 at the time of writing. 

United States Average Hourly Earnings (MoM) above forecasts (0.3%) in May: Actual (0.4%)

United States Unemployment Rate in line with forecasts (4.2%) in May

Canada Net Change in Employment above forecasts (-15K) in May: Actual (8.8K)

United States Average Weekly Hours meets forecasts (34.3) in May

United States U6 Underemployment Rate down to -1% in May from previous 7.8%

United States U6 Underemployment Rate remains unchanged at 7.8% in May

Canada Unemployment Rate in line with forecasts (7%) in May

United States Average Hourly Earnings (YoY) above forecasts (3.7%) in May: Actual (3.9%)

United States Labor Force Participation Rate fell from previous 62.6% to 62.4% in May

United States Nonfarm Payrolls above expectations (130K) in May: Actual (139K)