Nonfarm Payroll is a significant economic indicator that measures the number of jobs added or lost in the US economy, excluding the farming industry. This report is released by the US Bureau of Labor Statistics on the first Friday of every month and is closely watched by investors, policymakers, and economists worldwide. It is also one of the most crucial indicators that the Federal reserve considers when making decisions about interest rates.
Today’s given signal : https://t.me/calendarsignal/11263
How Does The Non-Farm Payroll Impacts Investors & The Markets
Forex Market
Stir up the forex market’s trend and could lead to a substantial impact on the forex trading as a whole
Currency Pairs
Affects all of the major currency pairs with USD, and others but the GBP/USD remains the top choice among traders
Domino Effect
On the grounds that the U.S. dollar is stirred, so is the safe-haven – gold
Gold Prices
If there is a physical or industrial demand within an economy, a positive NFP supports the price of gold.
When NFP data surpasses market expectations, it often leads to an increase in interest rates, as the Federal Reserve may view the data as indicative of stronger economic performance. Higher interest rates tend to dampen demand for gold, as investors shift towards higher-yielding assets. Additionally, a stronger dollar, which is often a result of positive economic news, can also lead to a decline in gold prices.
The XAUUSD pair, which represents the value of gold denominated in US dollars, is sensitive to changes in interest rates and the US dollar. A strong dollar makes gold more expensive for foreign investors, while higher interest rates reduce the attractiveness of gold as a hedge against inflation. These factors can all contribute to a decline in the price of gold when NFP data beats expectations.
Previous released data results :
On last NFP data (8-3-2024) we predict to SELL XAUUSD as for Surprising higher data, So XAUUSD price was fall.
Check the previous blog : https://blog.forextrade1.com/how-to-trade-the-xauusd-pair-with-us-nfp-data-6-3-2024/
Check last given signal : https://t.me/calendarsignal/10831
Performance :
