Gold Outlook Ahead of NFP

Gold Outlook Ahead of NFP

Good day for all traders out there! We prepared a gold analysis and a bunch of other news for you to enjoy! Here's what you should know:

Event of the day:

US NFP, unemployment rate, and average hourly earnings, at 15:30 GMT+3.

Gold outlook ahead of the NFP release:

The US job market is still tight, perhaps not as tight as it has been. A report from the Labor Department Friday is expected to show that employers added about 25% fewer jobs in October than they did the month before.

Thus, the actual NFP data due to come out today at 15:30 GMT+2 may be lower than expected and push the gold higher to the resistance of $1662. Still, this is a short-term expectation from the metal. On the bigger timeframe, gold is still in the downtrend, with a high chance of reaching the support of $1557.


Other important news to follow

  • ECB President Kristine Lagarde said they must not let the high inflation become entrenched. Meanwhile, EURUSD is on the way to 0.9800, up from 0.9762 a couple of hours earlier.
  • UK construction activity continues to rise in October, but new orders fall for the first time since May 2020. GBPUSD touched the 1.1150 support, then bounced.
  • China President Xi Jinping and German Chancellor Olaf Scholz agreed to develop deeper economic relations to contribute to world peace and development.
  • Crypto news: Polygon (MTCUSD) skyrockets 20% after rapid growth in huge transactions inside the network.
  • Bank of England governor Bailey said there are probably the most considerable upside risks in inflation forecasts in the history of England.
  • Reserve Bank of New Zealand sees inflation at 4.75% in December 2023 vs. 4.25% in the prior statement. NZDUSD is up 900 points over the last 24 hours.

Have an excellent trading session, and stay focused!


US Dollar Index at a 3-month Low
US Dollar Index at a 3-month Low

The USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?

Soon Bullish Rally for Gold
Soon Bullish Rally for Gold

The winter is coming, and risky markets expect a rally to come with it. Will this December be bullish for stocks, crypto, and gold? A pack of news will surely help you out.

Latest news

China Stocks are About to Jump
China Stocks are About to Jump

It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.

Deposit with your local payment systems

Feel the Team Spirit

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.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

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