Historically, how impactful has the US jobs report been on gold’s valuation? In this article, we present results from a study in which we analyzed the XAU/USD pair's reaction to the previous 35 NFP prints*.
Nonfarm Payrolls in the US are forecast to increase by 160,000 in August. Gold is likely to react stronger to a disappointing jobs report than an upbeat one. Gold price's inverse-correlation with NFP surprise weakens slightly by the fourth hour after the release. Historically, how impactful has the US jobs report been on gold’s valuation? In this article, we present results from a study in which we analyzed the XAU/USD pair's reaction to the previous 35 NFP prints*.
77on disappointing prints and 1.4 on strong figures. 15 minutes after the release, gold moved up by $7.26on average if the NFP reading fell short of market consensus. On the flip side, gold declined by $4.86on average on positive surprises. This finding suggests that investors’ immediate reaction is likely to be more significant to a weaker-than-forecast print.
Gold XAUUSD Technical Analysis
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
August nonfarm payrolls in focus with major Fed decision aheadAugust nonfarm payrolls in focus with major Fed decision ahead
Read more »
US Dollar trades broadly stable in build-up to Nonfarm Payrolls dataThe US Dollar (USD) sidelines on Monday with a very mixed picture on the quote board against most major currencies. The US Dollar kicks off this week with a calm due to the Labor Day holiday in the US, but the economic calendar will be picking up
Read more »
EUR/USD Weekly Forecast: Bears add ahead of the US Nonfarm Payrolls reportThe EUR/USD pair was unable to conquer the 1.1200 mark, and after flirting with the level at the beginning of the week, it entered a downward corrective spiral that resulted in the pair ending the week not far above the 1.1053 low.
Read more »
GBP/USD Forecast: Pound Sterling loses shine ahead of US Nonfarm PayrollsThe buying interest in the Pound Sterling (GBP) against the US Dollar (USD) remained unabated, sending the GBP/USD pair to a 29-month-high above 1.3250 before sellers fought back control in the second half of the week.
Read more »
Gold Forecast: Buyers retain control as $2,500 support holds ahead of US Nonfarm PayrollsFollowing a quiet start to the week, Gold (XAU/USD) briefly dipped below $2,500 on a broad US Dollar (USD) recovery.
Read more »
Forex Today: Nonfarm Payrolls benchmark revisions, FOMC Minutes to drive USD actionHere is what you need to know on Wednesday, August 21: The US Dollar (USD) holds its ground against its major rivals early Wednesday as markets wait for the US Bureau of Labor Statistics to announce the preliminary benchmark revisions to Nonfarm Payrolls.
Read more »