Gold Bounces on Weak Job Growth Amid Fed Rate Hike Debate
Gold prices rebounded on Friday, breaking a three-day streak of losses following the latest report by the Bureau of Labor Statistics, which revealed a mere 187,000 job additions to the U.S. economy in July. This figure serves as another indicator of a gradual cooling in the labor market, a trend that might be embraced by financial markets. The ongoing debate revolves around whether the Federal Reserve will manage to implement interest-rate hikes before the year's end.
Simultaneously, the unemployment rate dropped to 3.5% in July, down from the previous month's 3.6%, as reported by the government on Friday.
Nevertheless, wages, a critical gauge of workforce influence, experienced a 0.4% rise in July, surpassing the Fed's preferences. Over the past year, the increase remained steady at 4.4%.
Candice Tse, Goldman Sachs' Global Head of Strategic Advisory Solutions, remarked, "The employment growth falling short of consensus, coupled with elevated average hourly earnings, underscores the necessity for further strides in reducing the job-worker disparity, slowing wage growth, and ultimately curbing inflation. The Federal Reserve is likely concluding its most aggressive tightening initiative in generations, moving towards a well-managed deceleration."
BUY XAUUSD 1939 - 1941
XAUUSD 🔥🔥
TP1 ✔️ 1945
TP2 ✔️ 1950
SL ❌ 1936
Simultaneously, the unemployment rate dropped to 3.5% in July, down from the previous month's 3.6%, as reported by the government on Friday.
Nevertheless, wages, a critical gauge of workforce influence, experienced a 0.4% rise in July, surpassing the Fed's preferences. Over the past year, the increase remained steady at 4.4%.
Candice Tse, Goldman Sachs' Global Head of Strategic Advisory Solutions, remarked, "The employment growth falling short of consensus, coupled with elevated average hourly earnings, underscores the necessity for further strides in reducing the job-worker disparity, slowing wage growth, and ultimately curbing inflation. The Federal Reserve is likely concluding its most aggressive tightening initiative in generations, moving towards a well-managed deceleration."
BUY XAUUSD 1939 - 1941
XAUUSD 🔥🔥TP1 ✔️ 1945
TP2 ✔️ 1950
SL ❌ 1936
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。