NFP Data: Can it Sway Election?
Just days before the U.S. heads to the polls, the last employment report before Election Day will offer a snapshot of hiring and unemployment, key factors in a race where the economy remains top of mind for voters.
Ordinarily, monthly jobs data provides a clearer gauge of economic conditions. However, analysts project that last month’s hiring figures could be skewed by multiple disruptions. Hurricanes Helene and Milton, alongside a prolonged strike by Boeing machinists, are expected to have temporarily trimmed employment by up to 100,000 jobs.
Gold could emerge as one of the most responsive assets. Following a surge to record highs, bullion slipped as some investors opted to lock in gains and pushed the RSI into oversold levels. Technically, XAU/USD is potentially still bullish.
Ordinarily, monthly jobs data provides a clearer gauge of economic conditions. However, analysts project that last month’s hiring figures could be skewed by multiple disruptions. Hurricanes Helene and Milton, alongside a prolonged strike by Boeing machinists, are expected to have temporarily trimmed employment by up to 100,000 jobs.
Gold could emerge as one of the most responsive assets. Following a surge to record highs, bullion slipped as some investors opted to lock in gains and pushed the RSI into oversold levels. Technically, XAU/USD is potentially still bullish.
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