The U.S. government shutdown has shaken up the calendar, and the big Non-Farm Payrolls report didn’t make the cut. For us traders, this is huge. NFP is one of the most market-moving events each month, and without it, volatility is running on uncertainty.
Here's what you need to know.
1. NFP Delay Creates a Void
The jobs report was supposed to land today, Friday, October 3, but the shutdown has pushed it back. That means traders don’t get the usual labor-market read to guide them.
Instead, the market is leaning on smaller releases like the Challenger layoffs report, which showed job cuts falling to 54,000 in September from almost 86,000 in August. That drop is encouraging, but without the official payrolls, the picture feels incomplete. And when data goes dark, price action does the talking.
2. Gold Hovers Near $3,900
Gold has become the go-to safety play. After testing $3,897, it’s holding just below the $3,900 ceiling. The chart still screams bullish each pullback has been met with dip-buying.
Key support sits at $3,835, and the bigger floor is closer to $3,635. Unless the Fed suddenly turns hawkish, gold looks more likely to grind higher than give up its gains.
3. Oil Balances at $61
Crude oil is telling a different story. WTI has been struggling to keep momentum, bouncing around $61 after weeks of weakness. The level is key: lose it, and $60 becomes the next stop fast. On the upside, resistance is stacked near $65, but buyers don’t seem ready to step in yet. Supply risks are still in play, but growth concerns are weighing heavier right now.
My Takeaway
With NFP delayed, traders are navigating without their main compass. That makes markets more sensitive to headlines, Fed chatter, and technical levels. Gold looks steady as the safe-haven play, while oil is clinging to support. The data may be missing, but volatility is alive and well.