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Weak July Jobs Data Douses Fed Hike Bets; USD Slumps, Stocks & Gold Rally

Reuters Read original source (opens in a new tab)
The Story

News Summary

  • Weak U.S.
  • hiring data for July caused markets to significantly lower bets on a Federal Reserve interest rate hike in September.
  • The probability of a rate pause has risen, pressuring the dollar and supporting equities and gold.
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XAUUSD price history

4408.90 -4.49% over the displayed period

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