Tomorrow’s US Labor Report (NFP) is now expected to show that the US jobs market contracted in January due to the Omicron spread and subsequent lockdown. Get your market update from nickcawley1 here:
Tomorrow’s US Labor Report is now expected to show that the US jobs market contracted in January due to the Omicron spread and subsequent lockdown. Wednesday’s private payroll report surprised some in the market and turned negative for the first time in a year with jobs losses led by the service sector. This is now expected to be the case in Friday’s NFP release although official market estimates are still suggesting jobs market growth in the first month of 2022.
Market professionals will have factored in the Omicron effect into market prices but a contracting US jobs market will likely make front-page headlines in the weekend press. With gold’s fortune still tied to theand underlying US interest rates, anything that can move these markets, however short the timeframe, will need to be closely followed.
The recent sharp sell-off in gold has returned the precious metal back into a well-defined trading between $1,763/oz. and $1,837/oz. with any breakouts from this range pulled back quickly. Volatility remains low – using the Average True Range indicator – while gold is neither oversold or overbought. Maybe a burst of volatility post-NFP on Friday will give traders an opportunity within the previously mentioned range.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tax-Dodging Billionaire Dynasties Could Cost US $8.4 Trillion: Report'We can fix our broken estate and gift tax system and stop the concentration of an ever-larger share of America's wealth inside enormous dynasty trusts, or we can trust our democracy to a handful of trillionaire trust fund babies,' says Americans for Tax Fairness.
Read more »
USD/CAD trades with modest gains, remains below 1.2700 ahead of OPEC+/US ADP reportThe USD/CAD pair refreshed daily high during the first half of the European session, though struggled to capitalize on the move beyond the 1.2700 mark
Read more »
U.S. diplomats, spies may have been hit by electromagnetic energy -reportSome of the 1,000 U.S. diplomats and intelligence officers hit by a mysterious illness known as Havana Syndrome could have been targeted by electromagnetic energy pulses, according to a report to U.S. intelligence leaders released on Wednesday.
Read more »
US intelligence community report says 'pulsed electromagnetic energy' could cause Havana SyndromeAn intelligence panel investigating the cause of a spate of mysterious incidents that have struck dozens of US officials across the globe has said that some of the episodes could 'plausibly' have been caused by 'pulsed electromagnetic energy' emitted by an external source, according to an executive summary of the panel's findings released Wednesday.
Read more »
USD/JPY jumps 30-pips from daily lows up to 114.80 post-positive US ISM reportUSD/JPY jumps 30-pips from daily lows up to 114.80 post-positive US ISM report By christianborjon USDJPY Majors Fed Macroeconomics Technical Analysis
Read more »
Pfizer submits data for U.S. authorization of COVID shots for kids under 5 -reportPfizer Inc has begun submitting data to federal regulators as part of the process to win U.S. emergency use authorization (EUA) of its COVID-19 vaccine for children under age 5, Bloomberg reported on Tuesday.
Read more »