NFP Analysis: The US economy is on fire, Gold set to rust, US Dollar to shine until the CPI release
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The US gained 303,000 jobs in March, exceeding expectations. Wage growth remains robust. Gold will likely struggle, the US Dollar shine, and stocks to wobble. Neel Kashkari's hawkish comments triggered wild market action. The US Dollar advanced and US Treasury yields increased. Stock markets took the news positively. Investors are set to accept that a rate cut in June is drifting further away. The US releases its Consumer Price Index (CPI) report on April 10. EUR/USD breached 1.0800 on the strong Dollar. GBP/USD plummeted below 1.2600. Gold prices receded following the strong NFP report. Bitcoin price action has been confusing. Japanese Yen is jumpy ahead of US Payrolls. Crypto derivatives hit record high trading volume. Altcoins show signs of deepening correction. S&P 500 rallied on unemployment claims above expectations.
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