Daily Reviews

Nonfarm Payrolls (NFP) data will be released today at 16:30 (GMT+3). Last month’s data was significantly below expectations (12K vs. 200K forecast). This month’s forecast is 202K. The data is crucial as it precedes a Fed meeting later this month. Lower-than-expected results could increase the likelihood of a rate cut, potentially driving up commodities (especially gold), stocks, and U.S. indices.

Gold, which gained 6% weekly due to geopolitical tensions last week, started the new week with a 2% decrease and fell below $2700 again.

It is the last trading day of the week. We are preparing to leave behind a calm week in terms of the economic calendar but an active geopolitical agenda.

Indices and stocks in many countries, especially in Europe, sold off, and risk appetite decreased.

As we enter the new week, the strengthening of the dollar and the rise in bond yields have stopped, and risk appetite has increased.

While indices gave back half of their gains, gold prices extended their decline streak to a third week. This was the longest downward streak for gold prices since May.