US non-farm payrolls exceeded expectations with 256k jobs added.

Strong US job growth and Canadian employment data impact markets, with the US dollar surging and commodities like gold and oil gaining.

Highlights

📈 US non-farm payrolls exceeded expectations with 256k jobs added.

🇨🇦 Canada added 90.9k jobs, far surpassing the 25k forecast.

💵 US dollar gained 80-100 pips after the jobs report.

📉 Mixed performance in the US manufacturing sector with a loss of 13k jobs.

🌍 European markets show mixed results, with Spain’s IBEX up 0.9%.

⛏️ Gold continues its upward trend, trading at $2,680.

🛢️ WTI crude oil rises 3.1%, reaching $76.79.

Key Insights

💼 Labor Market Resilience: The US job market remains strong, but a decline in manufacturing jobs indicates sector-specific challenges. This mixed performance could influence future Federal Reserve decisions.

📊 Impact on US Dollar: The positive jobs data led to a significant surge in the US dollar, suggesting traders view the labor market as a buffer against potential rate cuts.

🇨🇦 Canada’s Economic Strength: Robust job growth in Canada highlights economic recovery, particularly in education and finance, supporting the Canadian dollar’s resilience.

🔄 Forex Market Reactions: The euro faces bearish pressure against the dollar, with traders seeking short opportunities, reflecting ongoing dollar strength.

📉 Mixed European Equities: With US futures pointing lower, European markets show volatility, indicating uncertainty in global equities amid economic data releases.

💰 **Commodity Gains

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