Gold Futures Drops Before US Labour Report
March 7, 2014 1:15 pmVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
Gold futures dropped lower on Friday, clearing gains seen in the previous session. As traders focus on the release of the monthly US reports due later in the day.
The yellow metal for April delivery came in at 0.18% to $1,350.50 on New York’s Comex at the time of writing, while silver futures for April settlement lost 0.23% to $21.555 an ounce at the same time.
The US dollar index, which measures the strength of the greenback against a basket of six major currencies, dropped 0.03% lower to 79.64 points, while the greenback dropped against the 18-block euro after the European Central Bank kept its interest rates unchanged in the previous session.
Gold – US non-farm payrolls data in Spotlight
The market are focusing on the release of the US jobs data due later in the day, as the report may influence the Federal Reserve’s decision over its monthly bond purchases.
The US non-farm payrolls data is expected to show an additional 150,000 jobs to the world’s largest economy in February, rising from the previous figures of 113,000 seen in January. With the unemployment rate expected to remain at 6.6%.
While the initial jobless claims declined by 26,000 to 323,000 in the week ending March 1, the lowest level in three months and down from analysts forecast of 337,000.
Gold – Fed Tapering
Last week the Federal Reserve Chair Janet Yellen said the US central bank would consider the pace of reducing its bond purchases if the economy weakens. Members of the Federal Reserve would gather for its next meeting scheduled for March 18-19. The Fed has announced a $10 billion reduction from its $85 billion monthly bond purchase at each of its past two meeting, currently leaving purchase at $65 billion.
Visit www.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today
The post Gold Futures Drops Before US Labour Report appeared first on | HY Markets Official blog.
Related Posts: