Bybit x FXStreet TradFi Report: How US labor data to be released this Friday will drive gold, crypto, and dollar volatility

Key Highlights:

• October 3 NFP report could shape Fed’s next move

• Rising unemployment and weak job creation are raising recession concerns

• First Fed rate cut already in, more cuts likely if labor weakens

• Gold at $3,800 and EUR/USD above 1.175 ahead of key data

• US shutdown threat could delay NFP report and ETF approvals, and boost safe havens

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Labor data as a core market driver

Labor data, especially US Nonfarm Payrolls (NFP), remains one of the most influential market catalysts. It provides a snapshot of the job market, and plays a key role in shaping Federal Reserve policy, which in turn impacts the US dollar, gold, silver, equities, and even crypto prices.