Check out the news that happened over the weekend

 Last Friday, the US released better-than-expected nonfarm payrolls-Nonfarm data.  However, the increase was not too large, the previous data was only modified to a minimum, which supported Gold to increase slightly.  Overall, however, good Nonfarm payrolls are likely to put downward pressure on gold this week.

 Non-farm employment growth in the US increased more sharply in June, showing that businesses are more successful in recruiting workers to keep up with the expansion of economic activity.  Nonfarm payrolls rose 850,000 last month and the unemployment rate rose to 5.9%, according to a report by the US Department of Labor.  May payrolls were revised to an increase of 583,000 people.  The labor force participation rate has remained stable and remains low compared to pre-pandemic levels.

 - Officials at the world's most powerful central bank will react to Nonfarm payrolls in the coming days and are unlikely to change their mind.  Officials are likely to continue to hold their position on the need to reduce QE.  Market participants are anticipating the Jackson Hole Symposium at the end of August to be the time when the Fed makes an announcement to reduce easing.

 Furthermore, wage growth remains upbeat at 3.6% year-on-year and as people have more money in their pockets, they are likely to spend more and push prices higher.  The Fed's second mandate is price stability, and such wage increases could convince the bank to abandon its theory that inflation is temporary.  Higher wages will lead to a steady rise in prices.

 👉 Bottom Line: Better-than-expected US Nonfarm Payrolls could put downward pressure on Gold in the coming days.  And with the fact that Gold has not surpassed the psychological level of $ 1800, the expectation of gold falling back is highly appreciated.

"British Prime Minister - B. Johnson will lay out the plan for the final step of easing the blockade in the UK on Monday, including guidance on social distancing, wearing masks and working from home."

 ----

 UK government said.

 => Good news for the GBP and the GBPUSD pair is likely to gain support again after this morning's corrective move.


 1️⃣ The main news last weekend

 Nonfarm payrolls in the United States in June posted its biggest growth in 10 months, and the unemployment rate rose slightly to 5.9%.  Employment data lowers Fed expectations and US certificates hit record levels.

 - US trade deficit widened to second highest on record in May, imports grew faster than exports.

 - The OPEC+ ministerial meeting was still unsuccessful to reach an agreement last Friday, because the UAE is still responding to the proposal to increase production, the talks will continue on Monday.

 - San Francisco Federal Reserve President Daly said in an interview with the Associated Press that the conditions for downsizing could be reached later this year.

 - A senior US State Department official said that negotiations to join the EU and the Balkan countries have stalled.

 - Global production of Tesla in the II vehicles is a record high of 201,250 vehicles, lower than the 204,160 vehicles estimated by Bloomberg surveyors.

 - Nikkei News Quoting people familiar with the matter, the Tokyo Olympic Organizing Committee is considering holding the opening ceremony of the Olympic Games without tampering in place.


 2️⃣ Notable events and data today

 - China's Caixin Services PMI in June.

 - The final value of the services sector PMI in the Eurozone in June.

 - The Sentix Investor Confidence Index in the Eurozone in July and the UK Services PMI in June.

 - OPEC + will continue to meet at the ministerial level to discuss policies to increase crude oil production.




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