Factors Driving Gold (XAUUSD) Prices Up (TECHNICAL ANALYSIS) Trade setup explained: Take-Profit is set at 2344 due to a strong resistance line there (see white horizontal line) Stop-Loss is set at 2311 which is right under 2315, 2315 has been showing stronger support. Conclusion: The weak NFP report and the potential for Federal Reserve interest rate cuts have contributed to upward pressure on gold prices. However, market participants should remain vigilant and assess the evolving economic landscape and its impact on gold markets. By monitoring economic indicators and central bank policies, investors can make informed decisions in the dynamic world of gold trading. Like always use proper risk-management. May 8 Comment: Minneapolis Fed President Kashkari said a hawkish comment which caused dollar to gain strenght since yesterday. This caused downward pressure on gold. More Fed members are going to talk this week, so let's wait and see. May 9 Comment: More Federal Reserve members are calling for higher for longer. This will suggest a stronger dollar and more downward pressure on XAUUSD. 20 hours ago Comment: Soon the Inflation numbers come out, if we see a major drop in inflation we could see gold prices reaching $2500 in 1 month time. But if it is going to show a rise in inflation, that would be a completely different scenario. （Source from: TV-ZILATRADES）

Factors Driving Gold (XAUUSD) Prices Up (TECHNICAL ANALYSIS) Trade setup explained: Take-Profit is set at 2344 due to a strong resistance line there (see white horizontal line) Stop-Loss is set at 2311 which is right under 2315, 2315 has been showing stronger support. Conclusion: The weak NFP report and the potential for Federal Reserve interest rate cuts have contributed to upward pressure on gold prices. However, market participants should remain vigilant and assess the evolving economic landscape and its impact on gold markets. By monitoring economic indicators and central bank policies, investors can make informed decisions in the dynamic world of gold trading. May 8 Comment: Minneapolis Fed President Kashkari said a hawkish comment which caused dollar to gain strenght since yesterday. This caused downward pressure on gold. More Fed members are going to talk this week, so let's wait and see. 13 hours ago Comment: More Federal Reserve members are calling for higher for longer. This will suggest a stronger dollar and more downward pressure on XAUUSD. （Source from: TV-ZILATRADES）

Factors Driving Gold (XAUUSD) Prices Up (TECHNICAL ANALYSIS) Trade setup explained: Take-Profit is set at 2344 due to a strong resistance line there (see white horizontal line) Stop-Loss is set at 2311 which is right under 2315, 2315 has been showing stronger support. Conclusion: The weak NFP report and the potential for Federal Reserve interest rate cuts have contributed to upward pressure on gold prices. However, market participants should remain vigilant and assess the evolving economic landscape and its impact on gold markets. By monitoring economic indicators and central bank policies, investors can make informed decisions in the dynamic world of gold trading. Like always use proper risk-management. 5 hours ago Comment: Minneapolis Fed President Kashkari said a hawkish comment which caused dollar to gain strenght since yesterday. This caused downward pressure on gold. More Fed members are going to talk this week, so let's wait and see. （Source from: TV-ZILATRADES）

On May 3, when was the last time the non-farm payrolls data was lower than expected? "The data isn't bad, but it's the first time we've seen every part of the NFP report weaker than expected in a long time — I don't remember anyway. "I'm still happy with market expectations for the Fed to cut rates in September. ”

Priya Misra, portfolio manager at JPMorgan Asset Management, said the employment data "underscores Powell's confidence that monetary policy is restrictive and labor supply is the main driver of strong nonfarm payroll rise in recent months." The slowdown in employment and wage rise means "soft landing", she argued, "assuming CPI also shows a slowdown, the August rate cut could return to the market narrative." "For now, the market expects the Fed to cut rates by 10 basis points at its August meeting, up from 7 basis points before the report. Therefore, it is clear that more long data is needed to show a slowdown in the economy, especially the upcoming inflation data.

On May 3, analyst Enda Curran said that with only six months left before the U.S. presidential election, the labor market seems to be turning. To be sure, the headline employment data is still strong and people are looking for work, but if the non-farm payrolls are a lagging indicator, you have to ask what the November data will look like.

Interest Rate futures currently expect the Federal Reserve to cut interest rates by 25 basis points twice in 2024, with a pre-NFP expectation of one cut. (Kincentric P)

On May 3, analyst Michael MacKenzie said that the reaction to the non-farm payrolls data looks very asymmetrical and could be a big deal for the market. If the data is stronger than expected, we will experience a bond sell-off, although we think the hurdles to a US rate hike are very large. Conversely, if the data is disappointing, it may indeed see a big pump and people will rise to the trade and say that the peak in yields has passed.

Golden Ten Data on May 3, the release of the non-farm payrolls report is imminent, U.S. stock index futures pumped, S&P 500 futures pumped 0.4%, Nasdaq 100 futures pumped 0.6%, Dow futures pumped nearly 0.8%. After Fed Chair Jerome Powell essentially dispelled concerns about rate hikes, the NFP report will be the next big catalyst for markets. Nonfarm payrolls are expected to rise by 240,000 in April, which would be the weakest since November. "The rise of non-farm payrolls may have slowed but remained at a strong level," said Sébastien Barbé, a strategist at Amundi Intrerest Rate said, " the 'higher and longer' narrative is expected to remain intact, but it has largely been priced in by the market at this stage." ”

Golden Ten Data on May 3, before the release of the U.S. jobs report, the Asian market was active. U.S. Treasury yields continued to fall on Thursday on expectations of weaker U.S. nonfarm payrolls. There has been some speculation that Fed Chair Jerome Powell leaked the NFP data in his relatively dovish remarks. Powell's dovish leaning is still reverberating in global markets, and he unequivocally pointed out in his speech that even if inflation remains relatively stable and moderately elevated, substantial weakness in the labor market could prompt a rate cut, weakening the relationship with inflation and warming up with employment. Overall, the jobs report is an important litmus test for near-term rate cut expectations (which could happen in June, or more likely in July).