Global markets slip as US payroll miss lowers Fed hike odds, boosting gold, silver and ringgit

U.S. non‑farm payrolls added just 57,000 jobs in June, well below forecasts, while the unemployment rate edged up to 4.2%. The weaker labour data trimmed market expectations for a Federal Reserve rate hike, with odds of a September increase falling from around 66 % to roughly 53‑55 %.

The dollar steadied near a two‑week low (index ~100.9). The euro traded around $1.1435 and the pound near $1.3351. The Japanese yen hovered close to a 40‑year low, around 162 per dollar, prompting speculation of possible intervention. Meanwhile, spot gold held near a two‑week high at about $4,175 per ounce and silver surged 7 % to over $62 per ounce, narrowing the gold‑to‑silver ratio to roughly 66.9‑1.

In Malaysia, analysts expect the ringgit to rebound to between 3.80 and 3.95 per U.S. dollar as Bank Negara Malaysia steps up measures to boost foreign‑exchange inflows and convert overseas earnings. Bitcoin also rose above $60,000 following a dovish comment from Fed Chair Kevin Warsh.

These movements reflect a broad shift in market sentiment as investors reassess monetary‑policy outlooks after the payroll report.