XAU/USD aims to sustain above $1980 amid fragile USD Index ahead of US NFP
The only catalyst that can save the index USD from a further casualty is the United States Non Farm Payrolls (NFP) data. Economists at commerzbank expect if the US labor market report for May is strong and above expectations, the Dollar could rise. Further, they added that given the fairly stable downtrend in employment growth, they expect 200k new jobs to have been created in May after 253k in April. This would probaly keep the unemployment rate 3,4%.
The only catalyst that can save the index USD from a further casualty is the United States Non Farm Payrolls (NFP) data. Economists at commerzbank expect if the US labor market report for May is strong and above expectations, the Dollar could rise. Further, they added that given the fairly stable downtrend in employment growth, they expect 200k new jobs to have been created in May after 253k in April. This would probaly keep the unemployment rate 3,4%.
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