Non farm forecast

The January non farm payroll report for the United States will be released on February 7, 2025 at 21:30. According to the predictions of 71 internationally renowned investment banks and financial experts, the expected increase in non farm employment in January is 170000, the expected unemployment rate is 4.1%, and the expected average annual wage rate is 3.8%. However, some 'non farm leading indicators' suggest that the US job market may be weak, suggesting that overall non farm data may fall short of expectations.

Gold trend

Gold was supported on Thursday when it fell above 2834.00, but encountered resistance when it rose below 2874.00. After a short-term rise, it may maintain its downward trend. If the rise of gold today encounters resistance below 2874.00, the future downward target may point to between 2834.00-2814.00. However, due to the non farm leading indicator implying a weak job market, the market may make long bets on gold and silver in advance. However, if the non farm is approaching and the market encounters resistance, it may also trigger profit taking.

Main foreign exchange currency trends

The US dollar index: Thursday's rise was blocked below 108.10, while its decline above 107.50 was supported, and it may continue to rise in the short term. Today's short-term resistance is between 108.00 and 108.05. Important resistance is between 108.30 and 108.35; Short term support ranges from 107.40 to 107.45. Important support ranges from 107.20 to 107.25

EUR/USD: Thursday's decline above 1.0350 was supported, while the rise below 1.0410 encountered resistance. After a short-term rise, it may maintain a downward trend. Today's short-term resistance is between 1.0405-1.0410. Important resistance is between 1.0430-1.0435; Short term support is between 1.0355 and 1.0360. Important support is between 1.0325 and 1.0330

GBP/USD: Short term can be sold at the upper limit of the range 1.2510-1.2290 and the lower limit of the target range today.

USD/JPY: You can buy at the lower limit of the 151.85-150.20 range and the upper limit of the target range for short-term trading today.

AUD/USD: Short term selling can be done at the upper limit of the 0.6295-0.6245 range today, with the lower limit of the target range.

USD/CAD: Short term purchases can be made at the lower limit of the range of 1.4395-1.4290 and the upper limit of the target range today.