Fed Hike Odds Tumble After Weak July Jobs Report

The latest US jobs data showed a significant miss in July, indicating a softening labor market. This development weakens the argument for the Federal Reserve to raise interest rates in September, despite some central bank members advocating for hikes amid higher energy prices. The diminished likelihood of a rate hike could exert downward pressure on the US Dollar and provide support for international gold prices, potentially influencing local gold and currency markets in Pakistan.

بحوالہ / Source: www.cnbc.com