U.S. NFP Employment Change Results
The wait is over. The key event for the day and for the week is scheduled today at 1230 GMT/1800 IST. Along with it Unemployment Rate of the U.S. will also be release. This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
Let’s see how Gold has reacted during the previous data release:
- Gold moves in rigid boundaries ahead of U.S. NFP job data and hovers around $1,810 mark.
- It made intraday high at $1,814 and low at $1,809 mark.
- A day chart is up and H1 chart with triple EMA suggests bearish trend for the time being.
- A sustained close above $1,818 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,809 on H1 chart will check further supports.
Take a look and do trade wisely!