Tonight at 20:30, three key U.S. payroll data for July—nonfarm payrolls, unemployment rate, and wages—are about to be released.
Earlier, the ADP small nonfarm report on Wednesday came in weak, leading the market to widely expect a cooling in U.S. hiring momentum. Rate-cut expectations warmed up in advance, prompting funds to move in early to buy gold for safe-haven purposes, which pushed gold prices higher during the day;
There is a clear split in the market: if the employment data remains weak, the likelihood of the Federal Reserve cutting rates will increase, which is favorable for gold prices; if the employment data rebounds strongly, rate-cut expectations will cool, the U.S. dollar will strengthen, and gold’s early gains will quickly drop by #黄金代币化
Earlier, the ADP small nonfarm report on Wednesday came in weak, leading the market to widely expect a cooling in U.S. hiring momentum. Rate-cut expectations warmed up in advance, prompting funds to move in early to buy gold for safe-haven purposes, which pushed gold prices higher during the day;
There is a clear split in the market: if the employment data remains weak, the likelihood of the Federal Reserve cutting rates will increase, which is favorable for gold prices; if the employment data rebounds strongly, rate-cut expectations will cool, the U.S. dollar will strengthen, and gold’s early gains will quickly drop by #黄金代币化