Gold Price Futures (GC) Technical Analysis – Surges as U.S. Labor Market Data Raises Fed Slowdown Hopes
An uptick in the U.S. unemployment rate in October raised the odds of a potential slowdown in the pace of Federal Reserve rate hikes.
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An uptick in the U.S. unemployment rate in October raised the odds of a potential slowdown in the pace of Federal Reserve rate hikes.
There was little in Friday's reports to suggest a recession was imminent, or dissuade the Fed from aggressively raising rates.
Trader reaction to $1808.20 is likely to determine the direction of the June Comex gold market into the close on Monday.
The direction of the April WTI crude oil market on Friday is likely to be determined by trader reaction to the 50% level at $94.00.
The direction of the USD/JPY on Friday is likely to be determined by trader reaction to 115.615.