The US jobs report across all sectors exceeded expectations and surprised the market, The US economy added 130,000 jobs in January and the unemployment rate fell to 4.3%, Wage growth was also 0.4% which was above expectations and will likely support demand in the coming months, These data will likely incline the Federal Reserve to keep interest rates steady in the short term and the market has pushed the timing of the first rate cut to summer, Following this data, the dollar strengthened sharply.

Ahead of the US January jobs report, Goldman Sachs warned that job growth may be much lower than market expectations, The bank forecasts only about 45,000 new jobs, below the consensus of around 70,000, Updates to the BLS “birth–death” model and weak employment data are the main factors behind this lower estimate, However, this situation mainly reflects a gradual cooling of the labor market and could encourage the Fed to keep interest rates steady.

Bess Hamk stated that the current interest rate is at a "neutral" level and there is currently no need to cut it, She saw the rise in gold prices as a sign of ongoing inflation concerns and emphasized that full confidence in controlling inflation is not yet established, Hamk also warned about the "unsustainable" path of US government debt, a factor that could put pressure on bond markets and yields.

The US House of Representatives passed a bill to repeal import tariffs on Canada, increasing pressure on Trump’s trade policy, This vote comes ahead of the midterm elections and highlights concerns about the impact of tariffs on living costs, However, Trump is expected to veto the bill, and opposition from some Republicans indicates an intraparty divide