U.S. nonfarm payrolls rose by 165,000, above the 65,000 forecast, while unemployment declined to 4.1%. The stronger-than-expected employment report lifted market expectations of a December Federal Reserve rate hike and supported the U.S. dollar, while gold fell nearly 1%.
Stronger U.S. data and rising rate expectations supported the dollar, a headwind for dollar-priced commodities. The report does not identify a direct feed-commodity supply or demand effect.
After 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.