Today's market analysis
Abstract：Gold price retraces after a stronger-than-expected US jobs report hinted that the labor market remains solid and that the Federal Reserve (Fed) will likely ease policy in 25-basis-point (bps) chunks.
Gold price retraces after a stronger-than-expected US jobs report hinted that the labor market remains solid and that the Federal Reserve (Fed) will likely ease policy in 25-basis-point (bps) chunks. At the time of writing, the XAU/USD trades at $2,646, down 0.40%.
The US Bureau of Labor Statistics (BLS) revealed that the labor market is far from being in a tough spot following an outstanding September jobs report. The data reduced the pressure on the Fed, which reduced borrowing costs by 0.50% at the September meeting, amid fears of achieving the US central bank maximum employment mandate.
Gold opened at around 2650 and rose to around 2652 at the highest and around 2648 at the lowest before press time.Pay attention to the resistance of 2670-2680-2690. If it fails to break through, it will test2640-2630-2620
WikiFX Broker
Latest News
Axi Review: A Data-Driven Analysis for Experienced Traders
WikiFXINZO Regulation and Risk Assessment: A Data-Driven Analysis for Traders
WikiFXPepperstone CEO: “Taking Down Scam Sites Almost Every Day” Becomes “Depressing Daily Business”
WikiFXThe CMIA Capital Partners Scam That Cost a Remisier Almost Half a Million
WikiFXIs Seaprimecapitals Regulated? A Complete Look at Its Safety and How It Works
WikiFXeToro Cash ISA Launch Shakes UK Savings Market
WikiFXCleveland Fed's Hammack supports keeping rates around current 'barely restrictive' level
WikiFXDelayed September report shows U.S. added 119,000 jobs, more than expected; unemployment rate at 4.4%
WikiFXClose Up With WikiFX —— Take A Close Look At Amillex
WikiFXGGCC Bonus and Promotions: A Data-Driven Analysis for Experienced Traders
WikiFXRate Calc
