Worse than Expected ADP
A loss of 33,000 jobs in June, far below expectations.
Bullish for Gold
Immediate Target : $3,385
The shockingly weak ADP jobs number is bullish for gold. Such a negative surprise amplifies fears about the U.S. labor market and boosts expectations for Federal Reserve rate cuts. As a result, the U.S. dollar is still under pressure, and safe-haven demand for gold is in focus again.
With gold already in a strong uptrend, this ADP miss provides fresh momentum for a move higher.
Traders position for more dovish Fed policy and continued economic uncertainty.
A drop in Interest Rates
Lets see : )
A loss of 33,000 jobs in June, far below expectations.
Bullish for Gold
Immediate Target : $3,385
The shockingly weak ADP jobs number is bullish for gold. Such a negative surprise amplifies fears about the U.S. labor market and boosts expectations for Federal Reserve rate cuts. As a result, the U.S. dollar is still under pressure, and safe-haven demand for gold is in focus again.
With gold already in a strong uptrend, this ADP miss provides fresh momentum for a move higher.
Traders position for more dovish Fed policy and continued economic uncertainty.
A drop in Interest Rates
- Continued Weaker Dollar
- Lower Interest return in Bond Yields
- Might as well bet on gold.
Lets see : )
Trade active
Looks like a sweep to me Buy point
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.