Gold dives before the publication of the employment report

Gold dives before the publication of the employment report

On Friday, during the morning European trading session gold headed south because of a moderate jump in the evergreen buck. Market participants are actually expecting a report on employment in the United States in April.

Gold futures headed south by 0.23% coming up with an outcome of $1309.70.

Besides this, the US dollar index that appreciates the purchasing power of the major American currency against a group of six main currencies managed to ascend by up to 0.12%, ending up with 90.23.

Assets, which are traded in the US dollar, such as gold, turn out to be sensitive to any change in the greenback’s exchange rate. As a rule, a depreciation of the evergreen buck makes the most popular precious metal more affordable for those, who keep other currencies – it ramps up the demand for this precious commodity.  

In addition to this market players are waiting for a monthly report on employment.

As follows from the consensus estimate, workplaces are anticipated to go up by 189 thousand having soared by 103 thousand in March. Additionally, it’s believed that after the March value of 4.1%, in April the unemployment rate in the United States is going to slump to 4%.

The key focus will be on the average hourly wage in America. As follows from the forecasts, it’s going to jump by 0.2% having soared by 0.3% a month earlier. According to estimates, on an annualized basis, wage surge will account for 2.7%, intact from March.

Steady surge in wages gives boost to inflationary pressures as well as the continuation of a gradual tightening of the monetary policy of the key US financial institution.

Meanwhile, silver futures headed south by 0.2% hitting $16.410 a troy ounce, thus demonstrating the lowest result since mid-July.


Latest news

Stocks up, USD down
Stocks up, USD down

S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


Manager will call your number

Correct number

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in {time}

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera