financetom
Cryptocurrency
financetom
/
Cryptocurrency
/
US NFPs Trump Expectations, US Dollar Grabs a Bid, Gold Slips But Retains Haven Support
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US NFPs Trump Expectations, US Dollar Grabs a Bid, Gold Slips But Retains Haven Support
Apr 5, 2024 6:04 AM

US Dollar and Gold Analysis and Charts

US NFPs - 303k vs 200k expectations and a revised lower 270k February print.Gold sheds $10/oz. post-release as the US dollar turns higher.You can download our brand new Q2 US Dollar Forecast below:

Recommended by Nick Cawley Get Your Free USD Forecast For all major central bank meeting dates, see the DailyFX Central Bank Calendar

The latest Jobs Report (NFPs) shows the US labor market in rude health with 303k new jobs added in March, trouncing forecasts of 200k. The unemployment rate slipped 0.1% lower to 3.8%, while average hourly earnings m/m met forecasts of 0.3%. Nonfarm private payrolls also beat forecasts, 232k compared to 160k.

For all economic data releases and events see the DailyFX Economic Calendar

The US dollar index added 30 ticks after the release, continuing Thursday’s late move higher after Federal Reserve member Neel Kashkari openly queried if rate cuts were appropriate this year. Today’s strong labor report will further stoke fears that inflation may become stickier than expected, meaning US rates will be left on hold for longer. Market rate cut probabilities were trimmed slightly after the NFP release with the June meeting now seen as just 56/44 in favour of a 25 basis point cut.

US Dollar Index Daily Chart

Gold’s recent rally stalled post-release with a haven still supporting the precious metal as Israel and Iran continue to warn of further military action.

Gold Daily Price Chart

All Charts via TradingView

Retail trader data shows 43.87% of Gold traders are net-long with the ratio of traders short to long at 1.28 to 1.The number of traders net-long is 1.06% higher than yesterday and 13.69% higher from last week, while the number of traders net-short is 5.61% lower than yesterday and 8.50% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Gold prices may continue to rise.

Gold Bearish Data provided by of clients are net long. of clients are net short.

Change in Longs Shorts OI
Daily -3% -4% -3%
Weekly 14% 9% 11%
What does it mean for price action? What are your views on the US Dollar – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter .

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
$1 Billion Filing by Bakkt Hints at Bitcoin Treasury Ambitions
$1 Billion Filing by Bakkt Hints at Bitcoin Treasury Ambitions
Jun 27, 2025
Bakkt Holdings has filed a shelf registration with the US Securities and Exchange Commission (SEC) to raise up to $1 billion through a variety of securities offerings while considering Bitcoin purchases for its corporate treasury. The digital asset platform, backed by Intercontinental Exchange, outlined in its Form S-3 filing that it could issue common and preferred stock, debt instruments, warrants,...
Number of Large Bitcoin Investors Surge to Multi
Number of Large Bitcoin Investors Surge to Multi
Jun 27, 2025
On-chain data from the market intelligence platform Santiment shows that the number of wallets holding at least 10 BTC has returned to levels not seen since March. This surge in whale and shark activity coincides with massive institutional inflows into spot Bitcoin ETFs and signals deep-pocketed confidence despite recent price consolidation below critical resistance. Whales Feast Amidst Retail Jitters According...
Is Ethereum (ETH) Seriously Undervalued Right Now? Many Whales Bet On It
Is Ethereum (ETH) Seriously Undervalued Right Now? Many Whales Bet On It
Jun 27, 2025
Ethereum (ETH) began climbing again this week, along with the rest of the market. However, it remains trapped under the $2,879 level for now. Even as it struggles to spearhead the much-anticipated altseason, its network activity is telling a louder story. Historic Activity on Ethereum On June 25, Ethereum recorded 1,750,940 confirmed transactions. This was the third-highest daily count in...
Across Protocol Team Accused of a $23M Grab; Co
Across Protocol Team Accused of a $23M Grab; Co
Jun 27, 2025
Ogle, a pseudonymous crypto sleuth and founder of Layer 1 project Glue, has alleged that the Across Protocol team used a web of undisclosed wallets to steer DAO votes in their favor, which enabled the team to transfer almost $23 million from the Across DAO treasury to their private company, Risk Labs. According to Ogle, while Across operates under the...
Copyright 2023-2025 - www.financetom.com All Rights Reserved