Top Daily News
US jobs report came in way better than anyone expected, 172,000 jobs added versus the 85,000 predicted. Before this report, the weak labor market had investors expecting interest rate cuts to prevent an economic slowdown despite sticky 3.8% inflation. But an increase in hiring proved the economy is resilient, Fed now has a better hand to focus entirely on fighting inflation with higher interest rates.
Forex News
AUD/USD is trading around 0.7038. Pair managed a tiny bounce earlier but is overall facing heavy pressure because the US Dollar is strengthening across the board.
EUR/GBP is holding relatively steady, there is still policy uncertainty in Europe, which keeps traders cautious.
EUR/USD is under pressure, because of good US jobs report, which means that US interest rates will stay higher for longer, hence drawing cash out of Europe and into the US.
USD/JPY is rising, as we already mentioned, good job report nearly secured higher interest rates for longer.
Stock Market News
Global stock markets are falling. When interest rates are high and war is artificially dragged out for a longer time period, nervous investors sell their shares, take their cash, and sit on the sidelines until things calm down. Tech companies are getting hit the hardest by this sell-off.
ASX 200 dropped 0.70% down to 8,521.75
Dow Jones fell down to 50,645 as blue-chip companies fell on fears of a tighter economy.
GB 100 opened lower, weighed down by global panic, though its heavy reliance on big energy companies is helping cushion the blow slightly.
Nasdaq plummeted 4.2%. The cooling of the artificial intelligence boom, plus higher rate fears, triggered sell-off in giant chipmakers.
Nikkei dropped 3.96% down to 63,948.87.
S&P 500 fell 2.64% to 7,383.74, officially erasing recent gains as.
Commodity Market News
Brent jumped nearly 3.6% in early trading, pushing prices up to $96.24 a barrel.
WTI followed right behind, trading around $92.81 a barrel, if the situation doesn't cool down in the Gulf, oil is entering a severe supply squeeze.
Gold Market News
When the world gets chaotic, people buy gold, but XAUUSD fell to $4,271 per ounce. US jobs report is holding gold back from a massive price increase, because higher interest rates make non-yielding gold a bit less attractive.
Crypto Market News
Crypto market suffered severely, because of a massive exit of big money and panic among leveraged traders.
Bitcoin has plunged roughly 15% over the week, breaking down past key support levels to trade around $63,000. The primary driver behind this crash is a massive wave of institutional selling, with over $1.4 billion pulled out of US spot Bitcoin ETFs in a single week.
Ethereum followed Bitcoin's path and dropped over 13% to sit around $1,730. This happened because of triggered over $1.7 billion in forced liquidations across the futures market, wiping out overleveraged traders.
Source: https://www.ifcmarkets.com/en/market-overview/xauusd-market-overview-08-06-2026
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