Gold to Rise as Crude Oil Declines if US Jobs Data Disappoints
All eyes are on the US Employment reportinto the end of the trading week. Expectations call for the economy to add 140,000 jobs in April, marking an improvement from the paltry 88,000 increase recorded in March. A relatively supportive outcome is likely to mollify “spring swoon” fears and boost risk appetite, cycle-sensitive crude oil and copper prices higher. In the FX space, the US Dollar is likely to find support as traders play up the Fed’s readiness to adjust the size of monthly asset purchases downward in line with improving economic developments, creating de-facto downward pressure on gold and silver amid ebbing anti-fiat demand.
All eyes are on the US Employment reportinto the end of the trading week. Expectations call for the economy to add 140,000 jobs in April, marking an improvement from the paltry 88,000 increase recorded in March. A relatively supportive outcome is likely to mollify “spring swoon” fears and boost risk appetite, cycle-sensitive crude oil and copper prices higher. In the FX space, the US Dollar is likely to find support as traders play up the Fed’s readiness to adjust the size of monthly asset purchases downward in line with improving economic developments, creating de-facto downward pressure on gold and silver amid ebbing anti-fiat demand.