GOLD: GOLD Ahead of NFP Data! Caution Advised
GOLD: GOLD Ahead of NFP Data! Caution Advised
Today, we must be careful with GOLD as we await the Nonfarm Payrolls (NFP) report.
This report is crucial because it provides insights into potential future decisions by the Federal Reserve (FED).
The market expects NFP data to come in around 170,000, down from 256,000 in the previous month.
Scenarios:
Higher-than-expected NFP Data:
If the NFP data exceeds the previous month's figures, GOLD might decline, bolstering USD strength.
Lower-than-expected or In-line NFP Data:
If the NFP data falls below expectations or remains the same, GOLD may rise in the short-term, especially given the strong bullish trend.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Today, we must be careful with GOLD as we await the Nonfarm Payrolls (NFP) report.
This report is crucial because it provides insights into potential future decisions by the Federal Reserve (FED).
The market expects NFP data to come in around 170,000, down from 256,000 in the previous month.
Scenarios:
Higher-than-expected NFP Data:
If the NFP data exceeds the previous month's figures, GOLD might decline, bolstering USD strength.
Lower-than-expected or In-line NFP Data:
If the NFP data falls below expectations or remains the same, GOLD may rise in the short-term, especially given the strong bullish trend.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Note
📣GOLD :Analyzing the NFP Data: USD Reaction Explained
The Nonfarm Payrolls (NFP) data came in lower than expected, with 143,000 jobs added versus the 175,000 expected. Surprisingly, the USD remained strong after the news. Why did this happen?
This time, the USD's strength can be attributed to two key factors:
Decrease in Unemployment Rate: The unemployment rate fell to 4% from 4.1%.
Increase in Average Hourly Earnings: Average hourly earnings (YoY) for January rose to 4.1% compared to 3.9% previously.
✅Given these economic indicators, it's likely that GOLD could see further downward movement as the USD gains strength.
However, be careful of any manipulation. It can happen
Note
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Related publications
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.