What's Going to Rise on US Jobs Data?

Gold seems set to rise on US jobs data, but crude? Not likely. 

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Gold prices were already advancing on the weak dollar, which might reverse now. But everyone seems to expect another gold boost with the release of the jobs data (I think that's any day now). 

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Still bearish on gold (and crude). Don't think jobs data is going to do much for either. 

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@Seleskya you've missed a day or two it seems. Jobs data is already out. You might have missed it because even though we added 200,000 jobs, the market didn't respond hardly at all. 

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my bad! I see it now. must have been thoroughly exciting. Looks good in the charts at least :)

 

Screen Shot 2018-02-02 at 2.43.20 PM.png

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and gold prices actually fell on the job report .... careful what you read :)

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I don't think there is much of a strong link between US jobs data and oil prices, but if anything, I would expect favorable jobs data in the US to translate loosely into an increase in energy demand, theoretically. Therefore, I would expect a price bump, but I think more so it depends on how the market views this data on any given day, rather than the data itself. I think the general feeling coming off a couple of horrendous years of bad oil prices is uneasy, even after a decent 2017. Prices are much higher now, but people are skeptical that it will hold. So any good news is being dampened. Nothing more than my humble and rather uneducated opinion, of course. 

 

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20 minutes ago, LAOIL said:

@Seleskya you've missed a day or two it seems. Jobs data is already out. You might have missed it because even though we added 200,000 jobs, the market didn't respond hardly at all. 

And US jobs data just came out today

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I think US jobs data IS positively affecting WTI. Notice that Brent is down almost 2%, while WTI is only down 1%. Maybe without jobs data, WTI would have been down even more.

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