Dollar Rises After Fed Chair Warsh Remarks as Markets Await U.S. Jobs Data

The dollar rose sharply after Federal Reserve Chair Kevin Warsh spoke on Friday, ending the week at 99.69 and gaining 0.85%. Gold came under pressure as U.S. Treasury yields and the dollar moved higher, falling 3.24% for the week, while spot silver dropped 3.82%. According to ChainCatcher, markets will focus next week on a series of economic releases and policy events, including eurozone August CPI, U.S. August ISM manufacturing PMI, U.S. July JOLTs job openings, U.S. July construction spending, U.S. August ADP employment, U.S. July factory orders, the Fed's Beige Book, weekly jobless claims, and U.S. August employment data. The U.S. August jobs report on Friday is expected to be the main data point of the week and the last employment release before the September 16 policy meeting. The article said it will also serve as a key test of the policy path after Warsh's hawkish remarks. Separately, Nvidia's strong results and its forecast for about 70% revenue growth in the next fiscal year have revived interest in AI trades. Dell will report second-quarter earnings after the close on Tuesday, September 1, with adjusted earnings per share expected at $4.91, more than double a year earlier. Broadcom will report fiscal third-quarter earnings after the close on Wednesday, September 2.