NFP: Temporary Layoffs (4.2%)or Permanent Layoffs (4.3%) is Key
PM Reports
Housekeeping: This is the PM GoldFix post as discussed here combining the AM emails with several other reports posted during the day. Topics covered are Metals, Commodities, Macro, Geopolitics, and More
Citi:
“August employment data will be the pivotal factor determining whether Fed officials are likely to start the rate cutting cycle with a 50bp or 25bp cut in September. We expect [4.3% unemployment]. We expect this to lead the Fed to cut by 50bp in September”
AM Posts:
Metals:
Commodities:
Geopolitics:
Macro Economics:
More:
Founders:
Seems like the market has been shrugging off the supposed "hard" data and pays more attention to the revised data.