Topics Columnists

Trending Topics

Russia-Ukraine Conflict

The war between Russia and Ukraine continues, and it is difficult for the two sides to reach an agreement in negotiations. Western countries have imposed several rounds of sanctions on Russia. The outlook is unpredictable.

Situation in Taiwan Strait

Pelosi's visit to Taiwan has led to an escalation of tensions in the Taiwan Strait. Chinese Foreign Ministry spokesperson Hua Chunying said that the U.S. side and the "Taiwan independence" separatist forces colluded to provoke China, which is the fundamental reason for the tensions in the Taiwan Strait.

The Fed

The Federal Reserve (Fed), or the central bank of the United States, is responsible for regulating the U.S. monetary policy and interest rates. As a provider of liquidity for world trade, the Fed is also known as the world's central bank. Its every move affects the global economy and financial markets.

China-U.S. Relations

Focus on Pelosi's Taiwan Visit ! How will China-U.S. relations develop in the future, win-win cooperation or confrontation?

Top Columnists

FastBull Featured

The latest breaking news and the global financial events.

FastBull

Hi there! Are you ready to get involved into the financial world?

Devin Wang

I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.

Winkelmann

7 years of stock market, foreign exchange, precious metal and other trading and analysis experience, based on fundamental, technical support, biased towards the top-down transaction logic, focusing on macro cycle and risk control, multi-purpose supply and demand theoretical prediction price Changes, balances the impact of transactions, chips distribution and market sentiment, and steady.

Trading AcademyTradersDaniel Market Outlook

Latest Update

Permits Will Be A Necessity In The Future! Or Else Get Blocked!

South Korea blocks Kucoin and other 15 unregistered crypto exchanges, while European Central Bank is working on some guidance on licensing crypto assets. Will the crypto market be regulated soon in the future?

Urgent! Transactions Will Be Paused During The Merge?

Coinbase announced that they will pause new Ethereum and ERC-20 token deposits and withdrawals during the Merge as a precautionary measure. Shiba Inu, had a surge of more than 26% recently when the exact Merge date was officially released, will there be another spike?

U.S. Treasury Imposes Sanctions on Tornada Cash, Did They Reach Too Far?

U.S. Department of The Treasury has imposed sanctions on Tornado Cash because Tornado Cash has reportedly laundered more than $7 billion worth of crypto. This includes over $455 million stolen by the Lazarus Group. why do hackers want to choose Tornado Cash?

A Supply Shock Before ETH2.0, When Should I Close My Buy Position？

Bitcoin Rebounces After July CPI Releases; There Is A Supply Shock Before ETH2.0; Binance And Mastercard Launch Prepaid Card in Argentina; This is the time!?!

Data Warehouse Market Trend Institutional Data Policy Rates Macro

Market Trend

Speculative Sentiment Orders and Positions Asset Correlation

Popular Indicators

Trading Signals

Recommended Signals

Recent Searches
    Trending Searches
      Quotes
      7x24

      View All

      No data

      English
      • English
      • 简体中文
      • 繁體中文
      邀请好友，获取现金奖励！

      XAUUSD: July Non-farm Payrolls Outperformed Expectation while Gold Prices Face Medium-term Adjustment after Sharp Decline

      Global InflationNonfarm PayrollsInterest Rate ResolutionThe Fed
      Summary:

      U.S. quarterly non-farm payrolls rose by 528,000 in July, the largest increase since February of this year. The unemployment rate was recorded at 3.5%, the same as before the COVID-19 pandemic in March 2020. Following the release of the U.S. July nonfarm payrolls data, U.S. interest rate futures prices showed a 70% chance of a 75 basis point Fed rate hike in September, compared to a 40.5% chance previously.

      Sell XAUUSD
      End Time
      CLOSED

      1772.89

      ENTRY PRICE

      1736.00

      TGT PRICE

      1816.00

      SL PRICE

      1752.00 -6.31 -0.36%

      489

      Points

      Profit

      1736.00

      TGT PRICE

      1768.00

      CLOSING

      1772.89

      ENTRY PRICE

      1816.00

      SL PRICE

      Fundamentals

      Non-farm payrolls rose by 528,000 in July, significantly higher than market expectations of 250,000, marking the 19th consecutive month of job growth; the unemployment rate fell to pre-pandemic levels (3.5%) and U.S. employers hired far more workers than expected, providing the strongest evidence yet that the economy is not in recession.
      The average monthly hourly rate increased by 0.5% in July after a 0.4% increase in June, which led to a 5.2% YoY increase in wages. Although wage growth seems to have reached a peak, pressure remains. Last week's figures showed that wages rose at an annual rate in Q2, the fastest rate since 2001.
      At the end of June, there were 10.7 million job vacancies, with 1.8 job vacancies for each unemployed person. The labor market remained tight. Economists do not expect a significant slowdown in employment growth this year.
      The July employment report depicts a fairly healthy outlook of the economy, despite several consecutive quarters of contraction in GDP. Labor demand eased in interest-sensitive sectors such as housing and retail, but airlines and restaurants were unable to find enough.
      Market observation: Although the labor market is still hot, what Fed policymakers most want to see is a weak labor market in the form of job vacancies rather than job cuts. Another piece of bad news for the Fed is the decline in the labor force participation rate.
      Last month, the number of people working or looking for jobs in the job market dropped. What the Fed really wants is to see people re-entering the labor market, pushing down the unemployment rate, and easing the wage pressure. Instead, what we see is that people have left the job market and employers are using higher wages to attract those who stay. A hot labor market usually means high inflation, which means the Fed will raise interest rates further.
      Short-term interest rates surged after the stronger-than-expected U.S. non-farm payrolls data, with interest rate futures corresponding to the September Fed meeting soaring to 3%, about 67 basis points higher than the current effective federal funds rate of 2.33%. This suggests that a 50 basis point rate hike in September is a foregone conclusion, with a two-thirds chance of a 75 basis point rate hike. Employment data raise the likelihood of a 75 basis point rate hike, but it remains unclear whether next week's CPI data will further clarify whether this is possible, or whether the Fed will insist on a 50 basis point rate hike.
      XAUUSD: July Non-farm Payrolls Outperformed Expectation while Gold Prices Face Medium-term Adjustment after Sharp Decline_1

      Technical Analysis

      Gold prices continued to be strongly resisted by the 100-day SMA in Friday's trading. After the release of the U.S. July non-farm payrolls data, gold fell nearly US$15 in the short term; at present, relying on the 4-hour middle Bollinger band's slow upward trend, it will be difficult to break new highs in the short term, which is in line with what we talked about at the beginning of the week, "focus on the rebound at the beginning of the week and the retracement on the weekends".
      Judging from the correction formed after the sharp drop in price, the current short-term upward trend has been undermined, but the upward trend in the 4H timeframe is still intact; As time goes by, if the price fails to recover the starting point of US$1,787, the gold price will be at risk of further retracement with the death cross that continues downward momentum formed by the short-term SMAs. For future development, we expect that the gold price will face a cyclical adjustment after this round of sharp retracement. Judging from the direction prediction, the path with the least risk is downward. It is recommended to go short at the highs.

      Trading Recommendations

      Trading direction: Short
      Entry price: 1878, 1882
      Target price: 1836
      Stop loss: 1816
      Deadline: 2022-08-19 20:00:00
      Support: 1864, 1850
      Resistance: 1804，1794, 1798
      Risk Warnings and Investment Disclaimers
      You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or signal, or any other product is suitable for you based on your investment objectives and financial situation.

      Quick Access to AI News

      Quick Access to Editor-selected News

      Full Access to Pro Video Channel

      FastBull project team is dedicated to create exclusive videos

      Real-Time Quotes

      Market quotes in the free version update every 3 seconds. Market quotes in the paid version update in real-time.

      More comprehensive macro data and economic indicators

      Members have access to entire historical data, guests can only view the last 4 years

      Member-only Database

      Comprehensive forex, commodity, and equity market data

      Eva Chen

      Analyst

      Master of Economics, 8 years in the financial industry, CFA holder, joined HSBC (Hong Kong) Bank in 2013 after graduating from the University of California, USA in the Investment Research and Markets Department. With years of financial market experience and trading experience, having provided excellent investment advice to many brokerages, entity derivatives importers and clients in Greater China.

      Rank

      2

      Articles

      244

      Win Rate

      65.48%

      P/L Ratio

      0.61

      Focus on

      XAUUSD, WTI, USDCAD

      Related Analysis

      XAUUSD: Fed's July Meeting Minutes Are Dovish, Still Poses Downside Risk to Gold

      TRADING

      USDCAD: Over-Congested Traffic above, Beware of Bears' Attack

      TRADING

      AUDUSD: 100 Day SMA Support Valid, Bulls Range Repair Follows

      TRADING

      XAUUSD: U.S. July Retail Sales Up 0%, How Should Gold Follow?

      PROFIT +724 Points

      AUDUSD: Bearish Position's Participation Not Being Prevented Despite Short Position Being the Main Theme

      PROFIT +388 Points
      TelegramInstagramApp StoreApp StoreGoogle Play
      Copyright © Fastbull Ltd
      Home News Columns AI News Economic Calendar Quotes Videos Data WarehouseAnalysis AI Signals Pro User Agreement Privacy Policy About Us

      Risk Disclosure

      The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

      No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.

      Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.