Zerologic
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This weekend saw the price of gold end with a drop at $2733 despite rebounding at $2762. However, the increase did not continue after reaching this level, and the gold price dropped gradually reaching a low of $2733.
If you look at the actual NFP data last Friday, it shows 12k, this is much lower than the expected 106k with the previous data of 223k. Meanwhile, the unemployment rate data was 4.1% as expected. In theory, the actual value of NFP greater than the forecast is good for the currency. But looking at the lower data, it should not be good for USD. However, towards the end of the market closing, news and market conditions were not in sync, or maybe this was because traders at the weekend closed their positions to avoid rollovers, resulting in USD strengthening.
If you look at the actual NFP data last Friday, it shows 12k, this is much lower than the expected 106k with the previous data of 223k. Meanwhile, the unemployment rate data was 4.1% as expected. In theory, the actual value of NFP greater than the forecast is good for the currency. But looking at the lower data, it should not be good for USD. However, towards the end of the market closing, news and market conditions were not in sync, or maybe this was because traders at the weekend closed their positions to avoid rollovers, resulting in USD strengthening.
