The US Payrolls Bring New Hope for Gold

The US Payrolls Bring New Hope for Gold

What will happen?

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). Millions of eyes watch these data closely because it shows us the overall economic health. Average hourly earnings are the earliest data related to labor inflation. NFP and unemployment rate help understand overall economic health and give clues on what future Fed readings result.

Why is it important?

All three readings are worth traders’ attention. As they are released monthly, they provide accurate info on the current state of the economy. Last month’s they brought big swings in the price of related assets. Gold, as it has an inverse correlation with the USD, is ausually affected by this data. It moved lower by 1500 points and then soared by 1780 points. Trading one lot on this swing would have brought you $1790.

news 3.png

How to trade on the NFP data?

This data may significantly impact different assets, including gold and USD-related pairs. We expect this reading to bring volatility to the XAUUSD.

  • If the actual NFP data exceeds expectations, XAU will fall.
  • Otherwise, it rise.

Check the Economic Calendar.

Instruments to trade: XAU/USD, EUR/USD, USD/CAD.

Similar

Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

Latest news

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.

Callback

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