On Friday (June 2) 20:30, Beijing time, the United States released its non-farm employment report for May, and its performance was unexpectedly significantly lower than expected. Specific data released by the U.S. Department of Labor shows that the United States added 138,000 new non-agricultural jobs in May, a significant decrease of nearly 1/3 from the expected value (182,000). The previous value was significantly lowered from 211,000 to 174,000.
However, the U.S. unemployment rate continued to fall by 0.1 percentage point to 4.3%, a new low in the past 16 years; the average annualized hourly wage rate in May of the United States also remained at the previous value of 2.5%, 0.1 percentage point lower than the expected value.
Reuters comments believe that the new jobs in the United States in May were mainly boosted by recruitment positions in leisure and professional services; although the unemployment rate in the United States fell this time, the employment participation rate also decreased at the same time, the report fully Employment in the United States may not be satisfactory.
The data released by the U.S. Department of Labor is disappointing. The number of new jobs in the United States in May was much lower than expected and was lower than the market's lowest new jobs. The number of new jobs was also revised down to 174,000 last month. people. Remarks about "the Federal Reserve believes that the recent economic slowdown is only temporary" may be temporarily "shut down". The Fed should not lose confidence.
According to the latest data from the interest rate futures market, the possibility that the Federal Reserve will raise the federal funds rate by 25 basis points in June is still as high as 100%, which is no different from expectations before the indicator is released.
The US non-farm employment report unexpectedly performed poorly, which hit the dollar to support gold prices, but the performance of this report cannot prevent the Federal Reserve from raising interest rates in the middle of this month. The Federal Reserve Notice Hack does not believe that the non-farm data is weak and supports the increase as soon as possible is reduced in the year. The speculation about the Fed's interest rate hike will become increasingly fierce as the interest rate meeting date approaches in mid-June.
As the non-agricultural report was significantly lower than expected, the US index fell in response, falling below the 97 mark and hit a new low since November last year; non-US currencies collectively climbed, and the euro hit a seven-month high against the US dollar; the 10-year US Treasury yield fell below 2.20%, the 30-year U.S. Treasury yield fell below the 200-day moving average for the first time since October last year.
Spot gold and silver rose sharply, COMEX's most active August gold futures contract was 15,737 lots in three minutes from 20:30 to 32 Beijing time, with a total value of nearly US$2 billion, pushing the spot gold price to rise above the 1270 mark, the highest Touched around $1280/ oz . Gold has once again touched the annual line resistance, and the later trend is particularly critical. If it breaks through the annual line resistance, it will continue to rise, and the mid-line rise will be opened (Figure 1). One person's opinion is for reference only.
