https://www.tradingview.com/x/IS2wMoBQ/
The latest April non-farm payrolls report released by the U.S. Bureau of Labor Statistics (BLS) has attracted much attention from the market. The report shows that the U.S. economy added 177,000 jobs that month, higher than the market expectation of 130,000, indicating that the U.S. labor market still shows strong resilience. At the same time, the unemployment rate remained at 4.2%, in line with market expectations, while the previously released March data was revised down from 228,000 to 185,000. This data adjustment is an official routine operation. In terms of wages, the average hourly wage increased slightly lower than the market expectation of 0.2% month-on-month, and fell short of the expected 0.3%; however, the year-on-year growth rate remained at 3.8%, higher than the current inflation level, suggesting that real income is still showing an upward trend.
After the release of the non-farm data, the market reacted quickly but the trend was divided. Spot gold fell about $9 to $3,250/ounce within a minute after the data was released, but then quickly rebounded to $3,255/ounce, with an intraday increase of 0.56%. In the short term, the two price levels of 3,260 and 3,265 have become the resistance levels of market attention. Overall, the unexpected performance of the non-farm payrolls in April has boosted the market's short-term confidence. However, the downward revision of historical data and external uncertainties still keep investors cautious. Risk assets may still have some room for growth in the short term, but in the medium and long term, downside risks are gradually accumulating.
After the release of the non-farm payrolls, the price of gold fell as expected, but then quickly bottomed out and rebounded, continuing to fluctuate. The impact of recent non-farm payrolls on the gold market seems to be gradually weakening, and its volatility is even less than usual. The gold 1-hour moving average crosses the downward short position arrangement, and eventually continues to diverge downward. Gold is now under pressure to fall back at the 3270 line, so next week, around 3270 will still be the key turning point for gold bulls and bears. Although gold has rebounded, the decline is not large. If gold is under pressure at 3270 next week and does not break, it will be a shock at most. Gold bulls will not reverse easily for the time being.
Operation strategy:
1. It is recommended to short gold near 3260 next week, with a stop loss at 3270 and a target of 3240
Hello traders, if you have better ideas and suggestions, welcome to leave a message below, I will be very happy
The latest April non-farm payrolls report released by the U.S. Bureau of Labor Statistics (BLS) has attracted much attention from the market. The report shows that the U.S. economy added 177,000 jobs that month, higher than the market expectation of 130,000, indicating that the U.S. labor market still shows strong resilience. At the same time, the unemployment rate remained at 4.2%, in line with market expectations, while the previously released March data was revised down from 228,000 to 185,000. This data adjustment is an official routine operation. In terms of wages, the average hourly wage increased slightly lower than the market expectation of 0.2% month-on-month, and fell short of the expected 0.3%; however, the year-on-year growth rate remained at 3.8%, higher than the current inflation level, suggesting that real income is still showing an upward trend.
After the release of the non-farm data, the market reacted quickly but the trend was divided. Spot gold fell about $9 to $3,250/ounce within a minute after the data was released, but then quickly rebounded to $3,255/ounce, with an intraday increase of 0.56%. In the short term, the two price levels of 3,260 and 3,265 have become the resistance levels of market attention. Overall, the unexpected performance of the non-farm payrolls in April has boosted the market's short-term confidence. However, the downward revision of historical data and external uncertainties still keep investors cautious. Risk assets may still have some room for growth in the short term, but in the medium and long term, downside risks are gradually accumulating.
After the release of the non-farm payrolls, the price of gold fell as expected, but then quickly bottomed out and rebounded, continuing to fluctuate. The impact of recent non-farm payrolls on the gold market seems to be gradually weakening, and its volatility is even less than usual. The gold 1-hour moving average crosses the downward short position arrangement, and eventually continues to diverge downward. Gold is now under pressure to fall back at the 3270 line, so next week, around 3270 will still be the key turning point for gold bulls and bears. Although gold has rebounded, the decline is not large. If gold is under pressure at 3270 next week and does not break, it will be a shock at most. Gold bulls will not reverse easily for the time being.
Operation strategy:
1. It is recommended to short gold near 3260 next week, with a stop loss at 3270 and a target of 3240
Hello traders, if you have better ideas and suggestions, welcome to leave a message below, I will be very happy
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Our goal is simple, to provide the most professional guidance for free to help everyone make a profit
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.