#NFPBeatsExpectations

✨The US January 2026 non-farm payrolls (NFP) report, showing an increase of +130,000 new jobs, exceeding expectations, had significant repercussions in global markets. This data strengthened the US dollar by delaying expectations of a Fed interest rate cut, while leading to declines in commodity prices and mixed reactions in equity markets. Below, we examine the global economic impacts of the report in detail, particularly in terms of currencies, commodities, emerging markets, and global growth dynamics.
ℹ️The US January 2026 NFP report (+130,000 jobs, exceeding expectations) had the following effects on global markets:
🔹The US dollar strengthened: The likelihood of a Fed interest rate cut delay increased, and the DXY rose.
🔹Other currencies came under pressure: The Euro, Yen, and emerging market currencies depreciated; borrowing costs rose in EMs. 🔹Gold and commodities fell: Gold prices declined due to expectations of higher interest rates, while oil experienced limited movement. 🔹Equities reacted mixed: US indices rose slightly on consumer spending support, but technology and temporal assets were pressured; volatility increased in global markets. 🔹Global growth sentiment improved: While US employment resilience gave a positive signal, the strong dollar and interest rate lag negatively impacted emerging markets and trade balances.