Be Watchful Ahead of U.S. NFP Job Data & Factory Orders, $15+ Volatility likely in Gold; June 04, 2021

Be Watchful Ahead of U.S. Session, $15+ Volatility likely in Gold; June 04, 2021

Today’s U.S. session will be most awaited as U.S. will release NFP Job Data and unemployment rate at 1230 GMT/1800 IST. Just after that U.S. will come up with the Factory Orders data at 1400 GMT/1930 IST. Let’s take a look on both the events one by one and try to figure it out the most likely direction for the Gold.

U.S. NFP Employment Change:

Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts. The unemployment Rate is generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country’s monetary policy.

May 07:

March 05:

U.S. Factory Orders:

This report contains a revision of the Durable Goods Orders data released about a week earlier, and fresh data regarding non-durable goods. It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.

May 04:

April 05:

Technical View:

XAU/USD (Gold): Gold moves in rigid boundaries and consolidates around $1,870 mark. The pair made intraday high at $1,875 and low at $1,856 mark. A day chart suggests up trend but H1 chart suggests bearish trend for the time being. A sustained close above $1,874 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,858 on H1 chart will check further supports.

Key Resistances: $1,882, $1,889, $1,896, $1,902, $1,908

Key Supports: $1,856, $1,848, $1,842, $1,837, $1,831

Take a look and do trade wisely!
Good Luck

Share on facebook
Share on linkedin
Share on twitter
Share on telegram
Share on whatsapp
Unleash Powerful Trading Conditions with TP Global.

Recent Posts



Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.

Mail us

Drop mail at:

Contact us

Call or Whatsapp
+44 7441 416320

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses because of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc.

TP Global FX Limited is registered and regulated by Vanuatu Finance Service Commission (VFSC) with a registration number 40409.

TP Global Limited is registered and regulated by FINANCIAL SERVICES COMMISSION (FSC) MAURITIUS with a registration number GB21026474

TP Global FX Limited is registered and regulated by Financial Services Commission, Mauritius with a registration number GB21026474

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.

mappin at-sign phone close