GOLD and equities are up on weak job numbers.
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US Nonfarm Payrolls Miss Expectations
Expected: +85K jobs
Actual: -23K jobs
This means the US economy lost jobs instead of creating them.
Lately, there has been speculation that the Fed may need to raise interest rates again if the economy remains strong.
But today's jobs data tells a different story.
A weaker labor market does not support the case for rate hike. If companies are creating fewer jobs or even cutting jobs, it suggests the economy is starting to slow down.
Expected: +85K jobs
Actual: -23K jobs
This means the US economy lost jobs instead of creating them.
Lately, there has been speculation that the Fed may need to raise interest rates again if the economy remains strong.
But today's jobs data tells a different story.
A weaker labor market does not support the case for rate hike. If companies are creating fewer jobs or even cutting jobs, it suggests the economy is starting to slow down.
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