EUR/USD climbed to around 1.1562 on Friday, approaching a seven-week high, supported by a weaker US Dollar after the latest US Nonfarm Payrolls report fell short of expectations. This softer jobs data led traders to reduce bets on further Federal Reserve rate hikes, according to FX Street.
Gold (XAU/USD) similarly benefited, posting a daily gain of over 2.30% on Friday and surging more than 7% over the week. The precious metal’s rally was driven by the subdued payroll numbers, while the US unemployment rate remained steady, FX Street reported.
For Japanese investors, these developments highlight potential shifts in currency and commodity markets, underscoring the importance of closely monitoring US economic data as it influences global risk sentiment and asset flows.