AUD/USD Recovers Above 0.6500 On Renewed USD Weakness
AUD/USD gathered bullish momentum and turned positive on the day above 0.6500. Nonfarm Payrolls in the US rose by 114,000 in July. US Dollar stays under strong selling pressure after disappointing jobs data.
Gold (XAU/USD) Continues To Surge: New Highs As Fed Rate Cut Looms
The price of gold (XAUUSD) continues its upward trajectory, hitting a new peak at 2460 USD per troy ounce on Friday.
The Sahm Rule, Employment, And Recession Indicators
Economist Claudia Sahm developed the “Sahm Rule,” which states that the economy is in recession when the unemployment rate’s three-month average is a half percentage point above its 12-month low.