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Gold, copper and other metals ended lower on Friday after US jobs data lifted the dollar. The US added 201,000 jobs, unemployment held at 3.9%, and wage growth rose to 2.9%, supporting expectations of a September Fed hike.
Strong US employment data supports further rate hikes and a firmer dollar, which weighs on dollar-denominated commodities. The effect on feed prices is indirect and limited.
sharecafe.com.auGlenn DyerSep 9, 2018After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
