Gold Price Forecast: XAU/USD could recover even on a slightly disappointing NFP report – Commerzbank
Gold endures the longest losing streak in seven years. Economists at Commerzbank analyze the yellow metal’s outlook ahead of the US Nonfarm Payrolls report.
NFP needs to considerably exceed expectations to justify any further marked slide
The outlook for the US economy, and thus for US bond yields, remains the key price determinant. That said, today’s US labour market data would probably need to considerably exceed expectations to justify any further marked price slide.
After all, the precious metal has already shed more than $100 in the space of just two weeks. Even a slightly disappointing labour market report could therefore rather help Gold recover.
See – NFP Preview: Forecasts from seven major banks, losing momentum
Reprinted from FXStreet_id,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.