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NFP Friday – 3rd June 2022

Gold Price (XAU/USD) trickles around $1,867, after an uptick to refresh the one-month high during Friday’s initial Asian session, as the NFP-linked caution takes momentum away. Also challenging the gold prices could be the recently mixed headlines concerning China and a rebound in the US Treasury yields.

That said, the yellow metal rose the most in a fortnight the previous day after the US Dollar Index portrayed the biggest daily slump in two weeks. Remember, softer US data and indecision among the Fed policymakers seemed to have triggered the US dollar’s pullback, as well as propelled the gold prices.

For the May NFP report, consensus expectations are for 325K net slowdown of new jobs and average hourly earnings projected to rise by 0.4% month-over-month.

We expect the USD to trade in line with the direction and magnitude of any surprise in the data given its recent correlation flip so have your trading charts ready!

Friday 3rd June 2022

Average Hourly Earnings m/m, Non-Farm Employment Change, & Unemployment Rate – 15.30 GMT+3.

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

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To find out more about Errante, visit https://errante.eu.

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Notely Trading Limited is an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number 383/20, registration number HE394425 and with registered office at 30 Karpenisiou, 1077 Nicosia, Cyprus. The Company is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.

The website (www.errante.eu) is operated by Notely Trading Ltd.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 33.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read our Risk Disclosure.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 33.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Read our Risk Disclosure.

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