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[New York Stock Market] The New York stock market fell back due to poor employment data. The Dow Jones Industrial Average once fell more than 10 points and closed 10 points lower. The S&P 500 index reported lower points. The number of new jobs created in the United States was far less than market expectations, cooling expectations for interest rate hikes. U.S. stocks were affected and all types of stocks generally fell. Financial stocks were the worst performers, falling nearly 1 percent, the most in about two months. Utility stocks bucked the market trend and performed well. The S&P 500 index and the Dow Jones Industrial Average both reversed their gains over the past two days. The Dow once fell to the 10,000-point level in the early morning, then rebounded after falling close to 10,000 points. In the afternoon, it almost completely recovered its losses and fell again before closing. If U.S. stocks strengthen, it will be negative for gold and silver.
[U.S. Dollar Index] The U.S. dollar exchange rate plummeted and the U.S. dollar index recorded its largest decline in four months. U.S. job creation was far fewer than expected and expectations for interest rate hikes cooled. Affected, the US dollar generally fell against major currencies, and the yen fell sharply to the level. The euro rose sharply against the dollar, hitting a three-week high. Technically, the U.S. dollar index fell below the high consolidation range, plummeted and fell below the level. At present, the Federal Reserve does not allow the US dollar to become too strong. If it rises to a certain position without intervention, the trend will be suppressed by human factors and safe-haven funds.
[Spot Gold Analysis]
[Technical Analysis] The technical chart formed a dead cross last week and the long-term downward trend has not been completely reversed, but there are positive signals of trying to build a bottom. At present, the minutes of the Federal Reserve's April interest rate meeting have released hawkish signals. Many Federal Reserve officials have made hawkish remarks, saying that the market may have underestimated the Federal Reserve's determination to maintain the normalization of monetary policy. Yellen's speech was the finale and the final word established a hawkish tone. However, it was affected by the strike. The latest The non-farm payrolls report performed extremely poorly and it is almost impossible to raise interest rates in June. The dollar fell sharply and fell below the level. The Fed's overall focus is tilted towards the hawkish side and the market will continue to look for clues on the path of subsequent interest rate hikes. Judging from the daily line, the price of gold has ended its bottom consolidation and has a big positive online attack. If the news continues to be positive, the atmosphere is expected to continue to rebound. The upper pressure level will look at the previous high and near it. However, many voting committee members had previously spoken in favor of the hawkish Yellen, who said that as long as economic growth permits, another interest rate increase would be initiated in the summer. At the same time, he did not rule out the possibility that next month's non-farm payrolls report would rebound sharply despite the impact of the strike. After the gold price surged, it may fall again. Below, focus on the previous lows and support near important integers. The price of gold is affected by the market's expectations for the path of future interest rate hikes by the Federal Reserve. The market is scrutinizing clues to the pace of interest rate hikes from various signs. There is uncertainty about the U.S. central bank's interest rate hikes. Gold prices have the opportunity to rebound sharply in a short period of time after falling and have the opportunity to exceed the original level and Market participants must have sufficient margin to cope with relevant risks and seize opportunities to create wealth.