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Commodities

FTSE 100 Falls as GBP/USD Recovers Amid Strong US Jobs Report

Guavy AI Editorial Team
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Gold
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The FTSE 100 index experienced a decline on September 7th as the gold price also dipped. In contrast, the GBP/USD currency pair rebounded.

The technical analysis of the FTSE 100 and gold price shows they both slid while the GBP/USD recovered from support levels.

Axel Rudolph, Chief Technical Analyst at ig.com, observed that Asian tech stocks led a regional rally with Japan's Nikkei rising by 2.0% and South Korea's Kospi jumping over 4%. This was fueled by Friday's strong US jobs report, which boosted global growth expectations but increased the chances of a September Fed hike.

The Labor Day holiday in the US meant that markets were closed.

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