The U.S. Dollar experienced a notable boost following the release of an upbeat jobs report, creating ripples across currency and commodities markets. The Nonfarm Payrolls data, released in December, revealed a significant increase of 256,000 jobs, exceeding market expectations. This development has been pivotal in the recent performance of various financial instruments, including the GBP/USD pair, which has extended its weekly decline, reaching its weakest level since November 2023, trading below 1.2250.
The positive employment data has placed pressure on several currencies, particularly affecting the GBP/USD pair. The strengthening U.S. Dollar has contributed to this decline, as investors adjust their positions in response to the robust payroll figures. Meanwhile, the EUR/USD remains under bearish pressure, trading below 1.0300 during the American session on Friday, illustrating the pervasive impact of the Dollar's rally.
In commodities, the gold market also felt the effects of the strong U.S. employment data. Initially, gold prices dropped toward $2,660 following the release of the jobs report. However, gold managed to regain its traction and climbed above $2,680, bolstered by a risk-averse market atmosphere that supports XAU/USD despite renewed USD strength.
On another front, on-chain metrics indicate a potential rally for SUI. The cryptocurrency's long-to-short ratio has reached its highest level in over a month, and open interest in SUI is on the rise. As of Friday, Sui's price has recovered most of its weekly losses and is trading around $5.06, signaling positive momentum in the market.
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