Labor DAY

Gold has tended to weaken before midterm elections when policy was tightening, with post-vote rebounds proving durable only when the Federal Reserve was near the end of its cycle. FXCOINZ market coverage finds the current setup looks closer to 2014 than to 2018 or 2022, keeping attention on the dollar and the next Fed decision.

USD/MXN is trading near lower territory last seen in June 2024 after a sharp late-week selling move against the dollar. Thin Labor Day conditions may distort price action before institutions return and focus turns to CPI data and the Fed’s FOMC decision.

WTI Crude Oil remains elevated above $90 as tensions between the U.S. and Iran continue to shape energy market sentiment. Traders are watching whether thin Labor Day conditions and Tuesday’s return of fuller volume can drive a renewed test of the $94 area.