Gold 5 May (I typed one word wrong, now its corrected)
Today is Unemployment Rate and NFP.
If Unemployment Rate comes higher gold should go up cause its a deflationary data but if it will come lower means gold goes down since its inflationary, this is show in the circular flow of money model.
The NFP is a monthly report released by the Bureau of Labor Statistics that provides a overview of the number of jobs added or lost in the economy. If the NFP report shows an increase in the number of jobs, it can be assumed that jobless claims will decrease, which is a positive sign for the economy. On the other hand, if the NFP report shows a decrease in the number of jobs, it can be assumed that jobless claims will increase, indicating that more people are losing their jobs.
The impact of NFP on the US dollar market can be significant. If the NFP report shows a strong increase in the number of jobs, it can indicate a growing economy, which can increase the demand for the US dollar. Conversely, if the NFP report shows a weak increase or a decrease in the number of jobs, it can indicate a slowing economy, which can decrease the demand for the US dollar.
A higher NFP data should mean a sell for gold since its an inflationary data BUT a lower NFP data should be a buy for gold since is a deflationary data.
Its Friday so be careful and if possible don’t trance since there is more days and its better not to lose money than to lose money.
Have a nice weekend guys, enjoy.
If Unemployment Rate comes higher gold should go up cause its a deflationary data but if it will come lower means gold goes down since its inflationary, this is show in the circular flow of money model.
The NFP is a monthly report released by the Bureau of Labor Statistics that provides a overview of the number of jobs added or lost in the economy. If the NFP report shows an increase in the number of jobs, it can be assumed that jobless claims will decrease, which is a positive sign for the economy. On the other hand, if the NFP report shows a decrease in the number of jobs, it can be assumed that jobless claims will increase, indicating that more people are losing their jobs.
The impact of NFP on the US dollar market can be significant. If the NFP report shows a strong increase in the number of jobs, it can indicate a growing economy, which can increase the demand for the US dollar. Conversely, if the NFP report shows a weak increase or a decrease in the number of jobs, it can indicate a slowing economy, which can decrease the demand for the US dollar.
A higher NFP data should mean a sell for gold since its an inflationary data BUT a lower NFP data should be a buy for gold since is a deflationary data.
Its Friday so be careful and if possible don’t trance since there is more days and its better not to lose money than to lose money.
Have a nice weekend guys, enjoy.
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.