📊💹Fundamentals that might impact XAUUSD: Date: 4 Oct, 24 📌 (NFP DAY)
US LABOR MARKET DATA: WHAT'S NEXT FOR THE FED?
Markets are closely watching tomorrow’s US labor report, as it could heavily influence the US dollar, commodities, and stocks. The data will also guide the Federal Reserve on future interest rate decisions.
WHAT TO EXPECT:
PREVIOUS DATA:
In August, the US added 142,000 jobs, falling short of the expected 164,000. Unemployment held steady at 4.1%, while hourly wages grew by 0.4%, exceeding forecasts. This prompted the Fed to cut interest rates by 0.5% during its September meeting.
SCENARIOS AND MARKET IMPACT:
🟢 Positive:
Jobs >140K, unemployment <4.2% — Dollar index could rise above 103, delaying rate cuts. Negative for gold, stocks, and crypto.
🟥 Negative:
Jobs <140K, unemployment >4.2% — Dollar index may drop to 101, boosting rate cut expectations. Positive for gold, stocks, and crypto.
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