| Investors await non-farm payroll of the U.S. will be announced today . This is important data affect the Fed's decision on QE3 . If non-farm payrolls positive , the Fed will likely cut more QE3 and put an end to the economic stimulus package in 2014. According to the average forecast of analysts , in December last U.S. economy added 196,000 new jobs created , lower than the figure of 203,000 in November , but higher than the average of 188.545 jobs May 11, 2013 . Positive employment data released today by ADP 4th and rising consumer confidence in recent months that many analysts expect job growth of 200,000 Americans will stand on the threshold of the third month in a row , this will be factors strongly support the dollar . In contrast , the greenback will take the pressure off if employment report disappointing . |
Ends policy meeting yesterday , the European Central Bank ( ECB ) decided to keep interest rates at a record low of 0.25 % . The move is in line with the ECB's previous forecast of analysts .
In the press conference afterwards, ECB president Mario Draghi pledged interest rates will be maintained at current levels or lower in a long time and said the ECB has prepared plans and is ready to act if necessary . EUR has dropped to one -month low against the dollar after Draghi 's remarks .
However, the common European currency has risen again after ECB president said that the monetary policy of the ECB is being made in accordance with the current situation of the region . Observers said that the euro will continue to face downward pressure in the near future as inflation remained low and slow growth of the economy many members .
Also yesterday , the Bank of England ( BOE ) does not change the monetary policy rate unchanged at 0.5 % and maintain the asset purchase program at 375 billion pounds .
August of last year , Governor Mark Carney said the BOE will not raise interest rates until the unemployment rate fell to 7 % . However, the current unemployment rate of 7.4 % in the UK , close to the threshold goals. Even so , most economists expect interest rates will remain the same , at least until the end of 2014 . Most are predicting that the BoE will raise interest rates in 2015.
GOLD PRICE walked ahead of U.S. jobs data
Gold prices fluctuated in a narrow range of trading yesterday as investors awaited U.S. employment report published today to predict the direction of the gold price . Session ends 9/1 , the world gold price increased to U.S. $ 1,227.5 / ounce .
According to analysts , labor market statistics in December U.S. will be an important factor for the Fed's next steps towards easing program , in which the gold price is likely to be volatile in next time .
Many people predicted that U.S. employment figures will continue to rise creating downward pressure on gold . However, the price of this precious metal will be supported if the jobs report disappointed .
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