The U.S. dollar has slipped to a new low against the euro, trading at 4,076.12—down 13.00 points or 0.32%—as traders brace for the highly anticipated non‑farm payroll (NFP) report due Friday. The dip in the currency has lifted pressure on gold, which closed at $4,076.12, a decline of $13.00 (‑0.32%). Silver followed suit, falling to $52.10, a drop of $0.28 (‑0.53%).
Energy markets were also softening. West Texas Intermediate crude eased to $89.31, down $1.21 (‑1.34%), while Brent crude slipped to $97.09, a fall of $1.20 (‑1.22%). Industrial metals were mixed: copper edged up slightly to $6.28, up $0.0053 (‑0.08%), whereas aluminum fell to $3,052.95, a decline of $8.55 (‑0.28%). Natural gas, however, gained momentum, rising to $3.005, up $0.058 (‑1.97%).
Analysts note that the dollar’s weakness is largely driven by expectations that the Federal Reserve may pause rate hikes following the upcoming NFP data. Traders will watch Friday’s payroll figures closely, as a stronger-than‑expected job report could reverse the dollar’s slide and shift commodity sentiment.
Overall, the market remains in a state of flux, with the dollar’s decline providing a tailwind for precious metals while exerting downward pressure on energy and industrial commodities. Investors are advised to monitor the NFP release and adjust positions accordingly.