Historically, how impactful has the US jobs report been on gold’s valuation? In this article, we present results from a study in which we analyzed the XAU/USD p
Nonfarm Payrolls in the US are forecast to increase by 180,000 in October. Gold is likely to react slightly stronger to a disappointing jobs report than an upbeat one. Gold price's inverse-correlation with NFP surprise weakens slightly by the fourth hour after the release. air's reaction to the previous 35 NFP prints*. We present our findings as the US Bureau of Labor Statistics gets ready to release the October jobs report on Friday, November 3.
Four hours after the release, r edges higher to -0.44. Several factors could be coming into play to weaken gold’s inverse correlation with NFP surprises. A few hours after the NFP release on Friday, investors could look to book their profits toward the London fix, causing gold to reverse its direction after the initial reaction.
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