Markets reacted negatively. NASDAQ is now in correction territory down over 2% on Friday and now far above its early August low. Bitcoin is down $10k in 2 weeks circa drop 17%.
Why one must ask. Well the devil is in the detail. The reason maybe due to significant revisions to prior months NFP figures - eg June is down massively from over 200k to not far above 100k, revisions have been negative for the last 4 months and 6 out of the last 7 and the downward revisions are significant. Private sector NFP for the last 3 months is below 100k and may fall further with further downward revisions, Even July’s poor figure was revised down.
With the sharemarket down a lot I suspect but don’t know the reason POG is down is due to selling gold to make margin calls.
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