🚨 Gold Update: Bulls Eye $3,500 Again? 📈
08 Aug 2025
01 Aug 2025
💵 US Dollar Index Nears Nine-Week High Ahead of NFP
The US Dollar Index (DXY) is holding firm around the 100.00 mark, its highest level in nine weeks, amid growing market anticipation ahead of today’s Nonfarm Payrolls (NFP) report.
The Greenback’s recent strength follows the latest US Personal Consumption Expenditure (PCE) Price Index data, which showed inflation pressures intensifying in June. This has led the Federal Reserve to signal a likely delay in interest rate cuts until at least October, sustaining a hawkish monetary policy stance.
In addition, new tariffs imposed by President Trump, ranging from 10% to 41% on imports from several countries including Canada, India, and Taiwan, have contributed to cautious market sentiment.
Initial jobless claims data released last week also showed a slight uptick, but remained below expectations, reinforcing a tight labor market backdrop ahead of the July payrolls release.
What to Watch
NFP release today at 12:30 GMT — expected to show positive but moderated job growth.
DXY hovering near critical 100.00 resistance level — a break above could fuel further USD gains.
Tariff developments may add volatility across forex and commodity markets.
Outlook
Traders should prepare for heightened volatility across USD pairs, gold, and equities as markets digest the labor data in the context of persistent inflation and trade tensions.
