Powell's Jackson Hole Message and Upcoming Jobs Report GOLD
At the Jackson Hole Symposium, Fed Chair Powell delivered a clear message: Inflation has slowed but remains resilient despite the series of rate hikes since 2022. While this assessment was hawkish, it was balanced with caution, as policymakers expressed a commitment to proceed carefully based on data.
This data-driven approach will elevate the importance of economic updates. The upcoming labor market report, set for release on Friday, could become a crucial reference point for FOMC meetings.
Regarding the upcoming U.S. employment survey, it's anticipated that nonfarm payrolls (NFP) increased by 170K in August, following a 187K rise in July, maintaining the unemployment rate at 3.5%. Additionally, average hourly earnings are expected to rise by 0.3% monthly and 4.4% annually, with the latter figure seen as too high and inconsistent with the 2.0% inflation target.
GOLD
SELL 1946-1948 🔽🔽
✅TP1: 1940
✅TP2: 1935
🚫SL: 1950
This data-driven approach will elevate the importance of economic updates. The upcoming labor market report, set for release on Friday, could become a crucial reference point for FOMC meetings.
Regarding the upcoming U.S. employment survey, it's anticipated that nonfarm payrolls (NFP) increased by 170K in August, following a 187K rise in July, maintaining the unemployment rate at 3.5%. Additionally, average hourly earnings are expected to rise by 0.3% monthly and 4.4% annually, with the latter figure seen as too high and inconsistent with the 2.0% inflation target.
GOLD
SELL 1946-1948 🔽🔽 ✅TP1: 1940
✅TP2: 1935
🚫SL: 1950
