Non-farm data shows a slowdown in the US economy But the US dollar continues to rise

Non-farm data shows a slowdown in the US economy

But the US dollar continues to rise

Last Friday (September 1st), a strong manufacturing report offset optimism, while employment data indicated that the Federal Reserve was about to end its tightening cycle. As bond yields climbed, the rally in the US stock market gradually subsided.

The S&P 500 index rose slightly ahead of the US holiday on Monday and also achieved its best weekly performance since June. Tesla fell more than 5%, while energy stocks rose due to oil prices exceeding $85 per barrel. After the release of non farm employment data in August, the yield of two-year treasury bond reversed after falling by 11 basis points. The US dollar hit a three-month high. In late US trading, spot gold closed at $1939.80 per ounce, with a decrease of $0.07 and remained unchanged. It hit a high of $1952.93 per ounce on the day and a low of $1934.33 per ounce.