Gold Pair Forecast as per Consumer Confidence & Jolts opening data – 30-1-2024

Today’s given signal :

The Job Openings and Labor Turnover Survey (JOLTS) is a survey that measures job openings and labor turnover.

This report is released monthly by the Bureau of Labor Statistics (BLS) of the U.S. Bureau of Labor Statistics (BLS) counts job openings, separations, and voluntary resignations.

A monthly jobs report from the Bureau of Labor Statistics is based on surveys of more than 20,000 businesses and government offices. A total separation, a resignation, a layoff, and a discharge is subdivided into three categories. Other separations include death and retirement.

Labor demand is widely measured by the number of vacancies, while quits are partly determined by employment demand. Labor turnover can be measured by job hires and separations.

JOLTS is a supplement to the BLS monthly jobs report, which estimates U.S. payrolls and unemployment rates. A month after the monthly jobs report for the same period, JOLTS data is released.

How Does the U.S. Labor Market Report Work?

In the U.S., the Employment Situation Report is released by the Federal Bureau of Labor Statistics every month on the first Friday. Surveys of households and employers are used to compile the report. U.S. companies use this data to estimate the number of employees, the average number of hours worked each week, and the average hourly wage in their workforce.

Previous released data results :

On last data (20-12-2023) we predict to SELL XAUUSD as for higher Consumer confidence number price was fall.

Check the previous blog :

Check last given signal :

Performance :

CCI (Consumer Confidence Index) for the latest quarter

December 2023’s CCI was 110.7, up from 101.0 the previous month. Consumers are more optimistic when the CCI is above 100 than when it was 100 in 1985. Consumers are more pessimistic in 1985 than they are in the current CCI when it falls below 100.

The Present Situation Index for December 2023 rose to 148.5 from 136.5 in November 2023. The Expectations Index, which is based on short-term expectations of income, business, and labor, rose to 85.6 from 77.4.

Those 55 and older showed an increase in confidence, while those 35 to 54 had a decline. Across all income groups, confidence increased. Rising prices, wars, and higher interest rates were still concerns for consumers.

Indicator that lags or one that leads?

Consumer confidence is seen as a lagging indicator by some in the economic community, but the Organisation for Economic Cooperation and Development (OECD) considers it a leading economic indicator. Known as leading indicators, they provide qualitative insight into the current economic environment and provide warnings of economic turning points.

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