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 140,000 in September. 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*.
65on disappointing prints and 1.4 on strong figures. 15 minutes after the release, gold moved up by $7.61 on average if the NFP reading fell short of market consensus. On the flip side, gold declined by $4.86 on average on positive surprises. This finding suggests that investors’ immediate reaction is likely to be more significant to a weaker-than-forecast print.
NFP Economicindicator Technical Analysis XAUUSD
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