United States Baker Hughes US Oil Rig Count: 480 vs previous 482

Jan 10, 2025

US Dollar climbs on robust NFP results, rises to multi-year highs

The Dollar Index (DXY), which measures the value of the USD against a basket of currencies, rallies on renewed inflation concerns as the stronger than expected Nonfarm Payrolls (NFP) report pushes out the Federal Reserve’s (Fed) rate cut timeline, fueling US Dollar demand and driving the DXY closer to 110.00.

Gold price rallies despite strong US NFP report

Gold price rebounded off daily lows on Friday, extending its rally for the fourth consecutive day as traders shrugged off a strong United States (US) Nonfarm Payrolls report.