The US Payrolls Bring New Hope for Gold
The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
Gold goes up on Fed views in Asia
On Tuesday, gold prices soared in Asia in light trade with market participants cautious ahead of a widely expected Fed rate lift in June as well as prospects for a stronger greenback.
In New York, June delivery gold futures added 0.14%, trading at $1,228.78 a troy ounce.
Overnight, the number one precious metal stood still because traders ditched safe-haven assets, right after Emmanuel Macron grasped a landslide victory over Marine Le Pen in Sunday’s runoff vote.
Gold futures actually struggled to hold onto revenues because demand for safe-haven assets relieved, after centrist Emmanuel Macron outperformed his counterpart, gaining up to 66% of the French vote on Sunday.
The greenback managed to advance to session peaks and applied pressure on dollar-denominated gold, though downside momentum in gold was capped because a Macron win was highly anticipated, after he held a considerable lead over Marine Le Pen in the surveys during the buildup to the runoff vote on Sunday.
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Increased Volatility is Coming
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
Market Crash Incoming?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
What Currency Will Overperform?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
