Gold (XAU)
Key news events today
NFPs (12:30 pm GMT)
Unemployment Rate (12:30 pm GMT)
ISM Services PMI (2:00 pm GMT)
What can we expect from Gold today?
Non-farm payrolls (NFPs) have printed higher than their respective forecasts for most parts of 2023. After September’s blowout figure of 336k, we are likely to see monthly job growth moderate as seen in the estimate of 179k while the unemployment rate is expected to remain unchanged at 3.8%. A combination of stronger-than-expected NFPs with lower unemployment rate is more than likely to function as a bullish catalyst for the DXY and thus drive gold prices lower.
Next 24 Hours Bias
Weak Bearish
Oil
Key news events today
No major news events.
What can we expect from Oil today?
Crude oil prices are set to register a second consecutive week of losses as worries surrounding supply disruptions due to geo-political risks in the Middle East eased. WTI oil rebounded overnight to climb above $82.00 per barrel and could edge higher today. However, WTI oil is set to decline nearly 3.6% this week and almost 7% since 23rd October.
Next 24 Hours Bias
Weak Bullish