Where next for the USD and gold ahead of NFP?

Where next for the USD and gold ahead of NFP?

by Quantum Trading Comment Closed
https://youtu.be/2q7Ev2V7ASQ What Is NFP and Why Is It Important? NFP stands for Non-Farm Payrolls. It's one of the most influential economic reports in global markets. Released by the US Bureau of Labor Statistics on the first Friday of each month at 8:30 AM ET (13:30 GMT), it measures job creation in the US economy excluding farm workers, government employees, and a few other categories. Over the last few days the US dollar has seen some much-needed upside momentum which in turn has driven the price of gold lower. So how much longer is the is the US dollar set to rise, or for gold to fall? Key Components of the NFP Report Headline Number: Net new jobs added (or lost) last month. Forecast vs actual drives reaction. Unemployment Rate: Percentage of workforce unemployed. Average Hourly Earnings: Wage growth—signals inflation pressure. Revisions: Previous months often adjusted. Strong NFP (beats forecast) = robust economy. Weak = slowdown concerns. Why NFP Is So Important NFP is a top-tier event for...
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Gold continues to shine

by Quantum Trading Comment Closed
Some solid gains for gold last week as the precious metal ended last week in a bullish mood following an extended period of price consolidation within the spread of the volatility candle triggered back in early February. Cannot stress the importance of this candle, moving as it did way beyond the average true range for the metal in this time frame, it has since defined and described any further move higher. Friday's price action too is important for the longer term with substantial volume coming into gold, helping to push the metal to test the $1279 per ounce region, before falling back on profit taking ahead of the weekend. Gold has started the new trading week in a very positive move with the 200 ema on the weekly chart providing the necessary support as the precious metal attempts once again to take out the $1279 per ounce high. A move through here on strong and rising volume will see gold move to...
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