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Hello everyone, today XM Foreign Exchange will bring you "[XM Official Website]: Trump announced the final candidate list of Federal Reserve Chairman, and OPEC+ decided to further increase production." Hope it will be helpful to you! The original content is as follows:
On September 8, during the Asian market on Monday, spot gold was trading around $3,588/ounce. The upset non-agricultural data strengthened the Fed's expectation of a rate cut. The probability of the Fed's interest rate cut in September was 100%, of which the probability of a 50 basis point cut was 8%, providing support for the gold price; U.S. crude oil was trading around $62.09/barrel, weak non-agricultural data weakened the outlook for energy demand, and OPEC+ decided to further increase production over the weekend, exacerbating the risk of oversupply.
The dollar fell sharply against major currencies last Friday as important monthly employment data showed fewer than expected workers employed by U.S. employers confirmed weaker labor market conditions and could guarantee the Fed's rate cut.
The Labor Department data showed that non-farm jobs increased by only 22,000 last month, far below the 75,000 economists surveyed by Reuters.
After the report was released, the US dollar fell across the board. The dollar fell 0.70% against the yen to 147.44, but continued to rise for the second consecutive week. The dollar fell 0.91% against the Swiss franc to 0.79830, while the dollar fell for the fourth consecutive week.
Juan Perez, head of trading at MonexUSA in Washington, said the data confirms the concerns that www.stofoco.companies have experienced in the year due to changes in trade policies, as well as changes in trade policies, and the tariffs have increased costs, which can only be digested for so long, and the current performance is that www.stofoco.companies are struggling to recruit.
The final value released by the Japanese Cabinet Office on Monday showed that in the second quarter of 2025 (Q2), Japan's economy grew by 0.5% month-on-month. ShouldThe reading was higher than market expectations and previous estimates of 0.3%.
Japan's GDP grew by 2.2% annually in the second quarter, with the previous value of 1.0%.
Canadian labor market further weakened in August, with employment falling by -65.5k, well below the expected 4.9k growth. This marks a second straight month of contraction, driven almost entirely by a sharp drop in part-time jobs -60k, while full-time jobs have little change.
The unemployment rate climbed from 6.9% to 7.1%, higher than expected, setting a record high outside the epidemic year since May 2016. Both employment and participation rates declined to 60.5% and 65.1%.
Wage growth has hardly eased, with average hourly wages rising 3.2% year-on-year, slightly lower than 3.3% in July.
U.S. non-farm employment data in August showed a sharp slowdown in recruitment, with employment only increasing by 22, far lower than expected 78. The correction reflects a mixed picture, with a slight increase to 79k in July but fell to -13k in June.
The unemployment rate rose from 4.2% to 4.3% as expected, while the participation rate rose slightly by 0.1% to 62.3%. The employment ratio stabilized at 59.6%, indicating that despite a slight increase in labor force, labor utilization has almost no improvement.
Wage growth remained stable, with average hourly wages increasing by 0.3% month-on-month and 3.7% in the past year. While wage increases remain the same, weak job creation data highlights the Fed’s plight: inflation may be falling slightly, but the labor market cooling is becoming more obvious.
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