*No change in US wage pressure and investors question full employment *Dollar index fell off the cliff
No new jobs created and that means no wage pressure but the miss on the headline number has shaken the sentiment among investors.
Usually the reaction would not be this rough, but investors are dropping the dollar index like a stone because of the concerns around the trade war.
Remember we are really in a situation where bad news is bad news. This is because the Fed is always late in the game and we clearly know that it has taken a long time for the Fed to acknowledge the weakness in the economic data, and now, the question is not for one rate cut but perhaps more
Nonetheless, the initial reaction for the gold price has been towards upside, and overall investors are optimistic about the current upward momentum.
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