US employment growth slowed in July, and the US dollar experienced its largest daily decline in three weeks, This week focuses on speeches by Federal Reserve officials on the economic outlook

CWG Markets

US employment growth slowed in July, and the US dollar experienced its largest daily decline in three weeks,

This week focuses on speeches by Federal Reserve officials on the economic outlook

The US dollar fell last Friday, almost erasing all gains this week. Previously released data showed a slowdown in US employment growth in July, enhancing hopes of

a soft landing for the economy. However, salary increases indicate that the Federal Reserve may need to maintain high interest rates for a longer period of time.

Gold prices have risen, and oil prices have risen for the sixth consecutive week. Prior to this, the largest oil producing countries Saudi Arabia and Russia have

extended the deadline for supply cuts to September, Exacerbating concerns about supply exceeding demand.

This week, focus on speeches by Federal Reserve officials on the economic outlook; In addition, the oil market has welcomed three major monthly reports. After

last week's OPEC+ministerial meeting did not discuss production policies, and Saudi Arabia and Russia extended the production reduction deadline, this week

we will focus on the conclusions of the three major monthly reports on production, especially Saudi Arabia and Russia. In addition, we will also pay attention to

the Bank of Japan's announcement of the summary of the opinions of the deliberation committee members at the July monetary policy meeting.

Gold prices climbed last Friday, after the previously released US employment report slightly underperformed expectations, driving down the US dollar and US

Treasury yields, providing some breathing space for gold. However, gold prices hit their worst weekly performance in six weeks. The closely watched employment

report of the United States Department of Labor showed that non farm jobs increased by 187,000 in July.