A weaker than anticipated NFP headline in 49k, marginally missing expectations of 50k. Alongside this, the revision to the previous month was unsatisfactory with a downgrade into -227k from -140k. Nevertheless, the unemployment rate had published especially lower than expectations at 6.3percent versus 6.7%, which was marginally helped by a lower workforce participation rate. All in all, the first take is that the NFP report is a bit poorer and awarded the exact soft December revision that is very likely to reinforce the demand for a substantial financial stimulus package in addition to a dovish Fed.

Adhering to the widely weak NFP file, that the US Dollar pulled back slightly, along with US yields, supporting the dovish Fed case. Subsequently, after the marginally weaker USD and dip yields, golden had temporarily retrieved the 1800 level. Nevertheless, on the whole the response was comparatively muted, this doesn't notably alter the Fed or Biden government needle, hence the movement has been somewhat shortlived.