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🚀 Weaker U.S. labour data pushes gold higher Gold (XAU) reached a near four-week high during yesterday's trading session following a weaker-than-expected report on U.S. private employment. Also, the yields on U.S. bonds continued to rise following a report that President-elect Donald Trump was considering implementing emergency measures to impose a new tariff program. 👉 Possible effects for traders The ADP National Employment Report revealed that U.S. private payroll growth slowed significantly in the previous month, from 146,000 in November 2024 towards 122,000 in December. The market is now awaiting the release of the U.S. jobs report on Friday for further insights into the Federal Reserve's future monetary policy direction. The minutes from the Fed's previous meeting indicated that policymakers agreed that inflation is likely to continue declining this year. They also acknowledged the rising risk of persistent price pressures, which could be influenced by the potential impact of President Trump's policies. Meanwhile, physical gold exchange-traded funds (ETFs) have seen their first inflow in four years despite a decline in their holdings by 6.8 metric tons, according to the World Gold Council. XAUUSD was moving primarily in a relatively narrow range of $2,656–$2,662 during Asian and early European trading hours. Today, market participants are waiting for the U.S. Jobless Claims report data, coming out at 1:30 p.m. UTC. A higher-than-expected reading should be taken as bullish for gold, while lower data may trigger bearish momentum in the precious metal. Sign Up Now ➡️https://tlt.ink/octa Partner Code ➡️ 3788810

📊 Euro dips on fears of possible tariffs imposed by Trump The euro (EUR) lost 0.2% against the U.S. dollar (USD) on Wednesday as U.S. bond yields continued rising, following a report that President-elect Donald Trump was considering using emergency measures to allow a new tariff program. 👉 Possible effects for traders The U.S. Dollar Index (DXY) continued to hover near a multi-month high yesterday, while the U.S. 10-year government bond yield rose to its highest level since April 2024. The rise happened after CNN reported that Trump contemplated declaring a national economic emergency to justify imposing universal tariffs on U.S. allies and adversaries. 'This feeds into this whole theme of a strong U.S. dollar, and even with the disappointing ADP (employment data), the dollar is still firmer on the day', said Marc Chandler, chief market strategist at Bannockburn Global Forex. Indeed, despite yesterday's ADP employment report being weaker than expected, EURUSD continued to decline. Eurozone, a major U.S. trading partner, may face additional tariffs from the U.S. Meanwhile, the German bond market saw a sharp sell-off yesterday, with the 10-year Bund yield reaching a more than five-month high amid accelerating eurozone inflation. Meanwhile, the divergence in monetary policy expectations between the European Central Bank (ECB) and the Federal Reserve (Fed) continues to favour the greenback. Investors currently price in more than a 96% chance of a 25-basis-point rate cut by the ECB on 30 January, but they expect the Fed to provide a similar cut no earlier than June 2025. Earlier today, EURUSD was falling during the Asian and early European trading sessions. Most U.S. markets will be closed on 9 January to honour the passing of Former President Jimmy Carter on National Day of Mourning, so the volatility during the American trading session may subside. Furthermore, the formal macroeconomic calendar is relatively light today, so EURUSD may continue to trade within its narrow 1.02800–1.03700 range. Sign Up Now ➡️https://tlt.ink/octa Partner Code ➡️ 3788810

📊 USDCAD consolidates ahead of employment reports The Canadian dollar (CAD) traded within a very narrow range yesterday and finished the day essentially unchanged against the U.S. dollar (USD). 👉 Possible effects for traders USDCAD has been rising almost uninterruptedly since the end of September 2024, driven by less dovish monetary policy of the Federal Reserve (Fed) and growing fears about possible economic tensions between the U.S. and Canada. Yesterday, investors grew more worried about the threat of U.S. trade tariffs. Still, USDCAD is currently below its multi-year high set on 3 January, when Donald Trump threatened to impose a 25% tariff on imports from Canada. 'Looking at the broader rebound in the USD, tariffs look like the culprit here again as Trump mulls over emergency legislation with regard to implementing tariffs. This has boosted the USD across the board', said George Davis, chief technical strategist at RBC Capital Markets. Another bearish factor for the loonie has been the performance of crude oil, one of Canada's major exports. Crude oil price has lost some of its recent gains after large builds in U.S. fuel inventories reported last week. As for the monetary policy, the Bank of Canada (BOC) is projected to pursue a more dovish monetary policy than the Fed. Investors expect the Canadian benchmark rate to decline towards 2.75% by June 2025, while the Fed's base rate is projected to remain within the 4–4.25% range over the same period. Earlier today, USDCAD was relatively unchanged during the Asian and early European trading sessions. Today, the volatility in all USD pairs is likely to be relatively low as most American markets will be closed for the National Day of Mourning. The market awaits important reports that may provide clues on the prospects of additional interest rate cuts by the Fed and the BOC tomorrow. Sign Up Now ➡️https://tlt.ink/octa Partner Code ➡️ 3788810

UNDERSTANDING BREAKEVEN (BE) IN TRADING 🎯 Breakeven (BE) is a critical concept in trading that refers to adjusting your stop-loss (SL) order to your entry price, ensuring that if the trade moves against you, you won't incur a loss. However, there are nuances to BE that traders should be aware of to maximize its effectiveness. BE: Breakeven involves moving your SL to your entry price once the trade has moved in your favor. This locks in profits and reduces the risk of losing capital if the market reverses suddenly. BE-: This variation of BE is used when short-selling. It means setting your SL slightly above your entry price to protect your position from minor fluctuations without prematurely exiting the trade. BE+: Conversely, BE+ is employed when going long. It entails setting your SL slightly below your entry price to account for price retracements while allowing the trade room to breathe and potentially capture larger gains. The value of using BE and its variations lies in risk management. By implementing these techniques, traders can protect profits, reduce exposure to market volatility, and enhance overall trade management. Remember, successful trading is not just about making profits but also about safeguarding capital and minimizing losses. Keep learning, stay disciplined, and trade smart! 💪💡

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🚀 Gold traders await important U.S. data Gold (XAU) rose by 0.49% during yesterday's trading session. The price attempted to break above the $2,660 resistance level but failed to rise further. 👉 Possible effects for traders Over the past few weeks, gold prices have continued to grow. Key drivers of the bullish trend include uncertainty surrounding the tariff policies of the newly elected U.S. president, fears of a potential trade war, and geopolitical tensions. A softer risk sentiment should limit a possible decline in the price of precious metals. President-elect Donald Trump's administration recently denied reports that it would adopt a less aggressive approach to tariffs, which may have affected market expectations. Yesterday, the Institute for Supply Management (ISM) Services Purchasing Managers' Index (PMI) data for December showed a rise in PMI numbers towards 54.1, significantly impacting the market. As a result, the U.S. dollar (USD) strengthened sharply, increasing by 0.18% within one hour after the data release. The data indicates continued stability in the U.S. economy and supports the possibility of smaller interest rate reductions by the Federal Reserve (Fed) in 2025. Today, traders will be waiting for the release of two important reports: the ADP Employment report at 1:15 p.m. UTC and the FOMC Meeting Minutes data at 7:00 p.m. UTC. These reports will play a crucial role in defining the movements of the U.S. dollar and gold. XAUUSD may break above the resistance level at $2,660 if the data is weaker than expected or retrace back to the support level at $2,630 if the reports are strong. Sign Up Now ➡️https://tlt.ink/octa Partner Code ➡️ 3788810

🚀 The euro declines following U.S. economic reports The euro (EUR) fell by 0.47% on Tuesday, extending its fall after the recent publication of the U.S. JOLTS and Services Purchasing Manager's Index (PMI) reports. The data suggests that the Fed will likely slow the pace of rate cuts this year. 👉 Possible effects for traders The U.S. data showed that the number of job openings unexpectedly increased in November while the hiring process slowed. The number of job openings rose by 259,000 towards 8.098 million, and the number of hires decreased by 125,000 towards 5.269 million. Meanwhile, U.S. services sector activity accelerated and increased towards 54.1 in December from 52.1 in November. The strong PMI data indicates accelerating inflation. ‘The most surprising aspect of the report was the rise in the prices paid index, which reached an eleven-month high of 64.4 in December compared to 58.2 in November’, said Dave Rosenberg, the founder and president of Rosenberg Research. He suggested higher transportation costs or delivery charges during the holiday season could contribute to the rise. Still, EURUSD gained some momentum following Tuesday's Eurostat data, which indicated a rise in eurozone inflation up from 2.2% in November towards 2.4% in December. Simultaneously, a survey conducted by the European Central Bank revealed that eurozone households increased their inflation expectations in November. EURUSD was moving sideways within a relatively narrow range of 1.03400–1.03550 during Asian and early European trading hours. Market participants await the publication of the U.S. FOMC Meeting Minutes at 7:00 p.m. UTC today, which may provide the market with more data about the U.S. monetary policy in 2025. Sign Up Now ➡️https://tlt.ink/octa Partner Code ➡️ 3788810

🚀 Strong U.S. data pressures the British pound On Tuesday, the British pound (GBP) declined by 0.34%, following a relatively stable labour market and resilient services sector U.S. data. This means that the Federal Reserve (Fed) will likely slow the pace of its interest rate reduction. 👉 Possible effects for traders U.S. data showed that the number of job openings unexpectedly increased in November while hiring slowed. According to the Bureau of Labor Statistics' Job Openings and Labor Turnover Survey (JOLTS), job openings rose by 259,000 towards 8.098 million on the last day of November. However, hires dropped by 125,000 towards 5.269 million, and layoffs changed slightly to 1.765 million. At the same time, activity in the U.S. services sector accelerated in December, while a measure of prices paid for inputs neared a two-year high, pointing to elevated inflation. The non-manufacturing Purchasing Managers' Index (PMI) from the Institute for Supply Management increased towards 54.1 in December from 52.1 in November, indicating strong demand. ‘The data definitely supports a pause from the Federal Reserve this month’, said Helen Given, FX trader at Monex USA. ‘It's likely that the Fed will sit back and wait to cut further, at least until March’, he added. Investors are also considering whether the tariff policies implemented by the incoming president, Donald Trump, will align with his previous campaign rhetoric. Market participants are considering a scenario where the implementation of broad-based tariffs could lead to increased U.S. inflation. This scenario could lower the chances of a dovish Fed policy and more rate cuts this year, strengthening the U.S. dollar (USD). Investors wonder if Trump's administration intends to revise some of its previous promises regarding tariff measures, as there remains significant uncertainty regarding future changes in U.S. policies. GBPUSD experienced low volatility during Asian and early European trading hours. Market participants are preparing for the U.S. FOMC Meeting Minutes today at 7:00 p.m. UTC. The report may give more clues about the future path of the U.S. interest rates. Sign Up Now ➡️https://tlt.ink/octa Partner Code ➡️ 3788810

#economic_calendar These events may affect the market on 8 January.

#economic_calendar These events may affect the market on 8 January.

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