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Technical Analysis of Gold; 08-01-2023
As mentioned in the past, the price was able to overcome the price level of 1859 dollars per ounce in an upward phase. From a long-term perspective, we expect the price to continue its upward trend to the 1960 level. XAUUSD Fibonacci Pivot Point Level These
The release of strong US employment data and the gold jump in the markets
US ADP Nonfarm Employment ChangeThe ADP Employment Report is a measure of the monthly change in nonfarm payroll and private sector employment based on payroll data from approximately 400,000 U.S. business customers. This report is released two days before the
U.S. ISM Non-Manufacturing Purchasing Managers Index (PMI)
The Institute for Supply Management (ISM) Nonmanufacturing Purchasing Managers’ Index, also known as ISM Services PMI, is a composite index calculated as an indicator of the general economic condition of the nonmanufacturing sector. A value above 50%
Canada’s improving employment situation and expectations for economic growth
The unemployment rate measures the percentage of the total labor force that was unemployed and actively looking for work in the past month. A higher-than-expected reading should be considered negative/bearish for CAD, while a release of a lower-than-expected
USD/CHF exchange rate decline following the release of lower than expected Swiss consumer price index
Swiss Consumer Price Index (CPI) The Consumer Price Index (CPI) measures changes in the prices of goods and services from the perspective of consumers. This index is an important tool for measuring changes in purchasing power and inflation trends. This index
Expectations for US economic conditions to improve following the release of impressive employment data
The nonfarm payroll is a measure of the labor force in the United States, excluding farm workers and those employed in a handful of other occupations. The report is produced by the Bureau of Labor Statistics (BLS), which surveys private and public
Gold rose as the US unemployment rate came in lower than expected
The unemployment rate measures the percentage of the total labor force that was unemployed and actively looking for work in the past month. A higher than expected number should be considered negative/bearish for the USD, while a lower than expected number
The slight drop in the ISM factory production index and the indifference of the markets
The ISM Manufacturing Index, also known as the Purchasing Managers Index (PMI), is a monthly indicator of U.S. economic activity based on a survey of purchasing managers at more than 300 manufacturing companies. This index is considered a key indicator of the
The release of the meeting minutes of the members of the Federal Reserve coincides with the release of strong employment data from the United States
The term Federal Open Market Committee (FOMC) refers to the branch of the Federal Reserve System (FRS) that determines the direction of monetary policy in the United States by conducting open market operations (OMOs). The Committee consists of 12 members,
The publication of the index of changes in the Canadian unemployment rate and the growth of the value of the USD/CAD currency pair in the markets
Canada’s Employment Change Index measures the change in the number of people employed. Job creation is one of the most important indicators of consumer spending. Reporting a higher than expected number should be considered positive/bullish for CAD,
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