US Labor data will be released tonight at 8:30 PM (GMT+7) with a mixed projection between each data. Here are things you should be aware of:
1. Worse Sentiment: recent uncertainty in policy changes, either trade conflict, federal budget cutting, or new government policies are taking a toll on demand, consumption, and business activities, while inflation is flaring around; all of these are showing signs of being reluctant in hiring activities.
2. not only the sentiment of uncertainty ahead, the recent downsizing workforce is likely to diminish the strength of labor market conditions.
3. Purchasing managers’ index reports from ISM, S&P, and ADP employment changes are making sure that we know about softening in the employment level.
Despite this, that does not always set a 100% path for upward GOLD prices. There are other factors to consider, such as the Federal Reserve member speech (Powell, Bowman, and William), Trump’s summit, and other geopolitical events.
