Web Trader MT5 
Japan’s Nikkei 225 briefly surpassed the 58,000 level for the first time ever on Thursday, extending its post-election rally driven by confidence in Prime Minister Sanae Takaichi’s landslide victory and pro-growth policy agenda. South Korea’s Kospi also hit a record high during the Asian session. In the U.S., stocks edged lower following the robust payrolls report, which contrasted with weaker consumer spending data earlier in the week.
U.S. job growth came in stronger than expected in January, with nonfarm payrolls rising by 130,000 versus forecasts of 55,000, while the unemployment rate edged down to 4.3%. The data eased concerns about the labor market and reduced expectations for near term Federal Reserve rate cuts.
Despite the solid U.S. jobs data, Wall Street closed slightly lower, with the Dow Jones falling 0.23% to 50,116. Nasdaq closed 0.1% higher at 25,193, and the S&P500 closed marginally lower by 0.08% at 6,944.
Gold is trading slightly higher near $5,060 in early Asian trading, supported by safe haven demand despite strong US labor data. Rising geopolitical tensions between the US and Iran, including warnings from President Trump about potential action if a nuclear deal is not reached, are helping support the precious metal.
Meanwhile, Kansas City Fed President Jeff Schmid stated that interest rates should remain restrictive to continue fighting inflation. Markets are now focused on Friday’s US CPI report, expected to show 2.5% annual inflation. Softer inflation could influence expectations for future rate cuts, which would impact gold’s outlook.
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