Market Overview

Important events of the new week: NFP, inflation, and the Middle East

Another shutdown has delayed the publication of important macroeconomic statistics.

As a result, the monthly jobs report will be released on the 11^th of February. Bloomberg experts predict an acceleration in employment growth from 50K to 68K in January, with the unemployment rate stable at 4.4%.

Dynamics of consumer inflation in the US and the Fed's key rate.

Two days later, US inflation data is set to be released. The slowdown in consumer prices will be a trump card for the FOMC doves and increase the chances of another rate cut in June, and could deal a blow to the US dollar.

The US dollar is gaining support as geopolitical tensions in the Middle East escalate. With the risk of conflict between Israel and Iran rising and oil prices climbing, concerns about the global economy are driving investors toward safe-haven assets.

After confidence in gold was shaken by signs of a bursting bubble, the US dollar is increasingly seen as the safer refuge.