US labor market barely recovers in August – Commerzbank
Source Fxstreet
In August, job growth in the US amounted to 142 thousand, which was slightly less than expected (consensus 165 thousand, Commerzbank forecast 150 thousand), Commerzbank’s Senior Economist Dr. Christoph Balz notes.
The labor market remains a cause for concern
“The US labor market barely recovered in August after the disappointing July report. 142 thousand new jobs were created, while the unemployment rate fell to 4.2%. At the same time, however, the increase in jobs in June and July was revised downwards by a total of 86 thousand.”
“The labor market therefore remains a cause for concern. The Federal Reserve is likely to cut interest rates on September 18. However, the report does not provide a clear indication whether policy makers will prefer a move by 25 or 50 basis points.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 11, 2026. Read on for the details.
As of the Asian session on Wednesday (November 11), gold prices (XAUUSD) rebounded slightly after a sharp decline in the previous session, last trading near $4,040, up about 0.3% on the d
Core CPI stuck at 0.3% for a third straight month — and BLS couldn't publish the number that would explain itOctober headline CPI rose 0.4% m/m against a 0.3% consensus, and core rose 0.3% for a third consecutive month against 0.2% expected. BLS published no year-on-year figures because October 2025 collection was lost to the government shutdown. Energy cooled to 0.7% from 5.2% — shelter, food and transport services did the rest. The 2-year yield jumped 18 to 21 basis points, the 10-year added 12, and the dollar closed at 102.25.
October headline CPI rose 0.4% m/m against a 0.3% consensus, and core rose 0.3% for a third consecutive month against 0.2% expected. BLS published no year-on-year figures because October 2025 collection was lost to the government shutdown. Energy cooled to 0.7% from 5.2% — shelter, food and transport services did the rest. The 2-year yield jumped 18 to 21 basis points, the 10-year added 12, and the dollar closed at 102.25.
Bitcoin lost its 200-day average — but the exit started three sessions before the CPIBitcoin fell 2.5% to about $73,400 on 11 November, an 11-week low, breaking its 200-day moving average near $73,100. The 24-hour liquidation tally reached $632 to $705 million, roughly 82% of it longs. But spot ETF outflows began three sessions earlier and USDT's market cap has shrunk $6.6 billion in 60 days — the leveraged length left before the inflation print did. A double top at 81,890 and 81,080 leaves a measured target of 69,366.
Bitcoin fell 2.5% to about $73,400 on 11 November, an 11-week low, breaking its 200-day moving average near $73,100. The 24-hour liquidation tally reached $632 to $705 million, roughly 82% of it longs. But spot ETF outflows began three sessions earlier and USDT's market cap has shrunk $6.6 billion in 60 days — the leveraged length left before the inflation print did. A double top at 81,890 and 81,080 leaves a measured target of 69,366.
On November 12, gold prices (XAUUSD) extended their recent losses, falling further below $4,000 in early Asian trading to hit an intraday low near $3,968, marking a third consecutive day
