Today’s given signal : https://t.me/calendarsignal/9512
Introduction
This blog explores the link between US Nonfarm Payrolls and Gold Prices. Nonfarm Payrolls is a monthly report that measures US employment, excluding farm workers. Gold is a popular investment and safe-haven asset. Analysing their relationship provides insights for investors and economists. The blog covers historical trends and the impact of Nonfarm Payrolls on Gold Prices.
US Nonfarm Payrolls
The US Nonfarm Payrolls is a crucial economic indicator that tracks the total employed population in the US, excluding agricultural workers. It is released monthly by the Bureau of Labor Statistics and is closely monitored by investors, policymakers, and economists. Changes in Nonfarm Payrolls can greatly affect the economy, including the financial markets.
Correlation Analysis
Analysing the relationship between US Nonfarm Payrolls and Gold Prices can offer valuable insights for investors. Past data indicates a negative correlation between these factors. As Nonfarm Payrolls rise, gold prices generally decrease as investors move towards more risky investments. Conversely, in times of economic uncertainty or slow job growth, gold prices may increase as investors look for a safe-haven asset. Having a grasp of this connection assists investors in making well-informed choices.
Previous released data results :
On last NFP data (6-10-2023) we predict to BUY XAUUSD as for Data was good that made oversold condition for gold to go up.
Check the previous blog : https://blog.forextrade1.com/nonfarm-payroll-data-will-affect-push-gold-today-6-10-2023/
Check last given signal : https://t.me/calendarsignal/9191
Performance :
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