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Weekly Summary (4/4/2022)

Non-farm data not as past but still strong

According to the data of the U.S. Bureau of labor statistics, 431000 new jobs were created in the United States last month which growth rate lower than the 750000 revised in February and 490000 predicted by Bloomberg consensus,however,it still considered substantial growth in the tight labor market. Although the data is lower than the employment index in the past few months, it still shows the great inertia of employment growth since strong inflation and provides the data basis for the Federal Reserve to adopt more active monetary policy to curb inflation.

On Friday, Biden said that the reduction in the number of unemployed people in the United States means that more families have more "breathing space", but he also admitted that inflation, which currently growing at the fastest rate in 40 years which still going too high. He pointed out that natural gas and food prices had risen after Russia's invasion of Ukrain and his government ordered the "historic release" about 180 million barrels oil from the emergency reserves of the United States this week to cool the price of crude oil.

At present, the Russian Ukrainian war has fallen into the stage of protracted war and both sides are at risk of falling into the quagmire of war. On April 1, the army aviation of the Ukrainian army crossed the border and attacked the Russian army's oil storage warehouse. This is the first large-scale tactical counterattack by the Ukrainian army since its launch and also first armed attack by the army of a sovereign state on Russia since the victory of World War II in 1945. At the same time, this behavior symbolizes that the war between the two sides has not yet entered the stage of deciding the outcome.

This week, spot gold crossed the 1900 line and continued to fluctuate upward. After the non-farm data was released on Friday, it gradually moved downward and closed in 1921. This week's considered to shock market with an important range of 1900-1950

Technical analysis: 

In the first half of last week, the price rose to the upper track of brin belt and was rising from 1891 to the highest 1950 position. After touched the high point in the middle term, it reversed downward and entered the lower track range. The price callback to 1922 position. At present, it fluctuates upward at 1922 position, showing a slight upward trend. Mainly observed that the price touched the key position 1930 of the middle track line.



Important data of this week:

Monday: 22:00 final value of February durable goods orders in the United States (%)


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