From Investing.com: 2025-01-09 02:20:00

Gold prices surged to a four-week high due to weak US private employment data and rising bond yields amid reports of Trump considering implementing a new tariff program. Private payroll growth slowed from 146,000 to 122,000 in December, with the US jobs report awaited for further insights. Policymakers at the Fed expect inflation to decline this year with potential pressures from Trump’s policies. XAU/USD traded in a narrow range, with market focus on the upcoming US Jobless Claims report.

The euro dipped against the dollar on fears of potential tariffs imposed by Trump. The DXY remained near a multi-month high as US bond yields rose, following reports of a new tariff program. The EUR/USD declined despite weak employment data, with the eurozone possibly facing additional US tariffs. Monetary policy divergence between the ECB and Fed favors the dollar, with investors betting on a rate cut by the ECB but not the Fed. EUR/USD may continue to trade within a narrow range amid light economic data and US market closures.

The Canadian dollar consolidated against the US dollar with fears of trade tensions and tariffs weighing on the loonie. USD/CAD has been rising due to a less dovish Fed and concerns over economic conflicts. Crude oil prices, a major Canadian export, have been affected by large US fuel inventories. The Bank of Canada is expected to pursue a more dovish monetary policy than the Fed. USD/CAD remained stable in Asian and European trading sessions, with low volatility expected due to US market closures and anticipation of key reports impacting interest rates.



Read more at Investing.com: Gold Near 4-Week High Amid Soft US Employment Data