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!


Market Crash Incoming?
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?
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.

Latest news

Crucial News For The Following Week
Crucial News For The Following Week

Consumer Price Index, Existing Home Sales, US Fed rate decision - all of these things we will discuss in our new review. Don't miss it out!

Focus on Banks' Meeting and NFP
Focus on Banks' Meeting and NFP

The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.

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