Forecast Overview Ahead of NFP Release

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Forecast Overview Ahead of NFP Release
Bullish Scenario (Weak NFP Data)

Consensus sees NFP adding around 75,000 jobs (slightly higher than July's 73,000), with unemployment likely rising to 4.3% and average hourly earnings cooling to 3.7% year-on-year.
MarketPulse
FXStreet
+1

In this scenario, gold could break above its $3,578–$3,579 record high, potentially rallying toward $3,600 and even $3,879 if bullish momentum intensifies.
FXEmpire
+1
FXStreet

Bearish Scenario (Strong NFP Data)

Should job creation exceed expectations (perhaps above 75,000), gold may face corrections down to $3,450–$3,400.
TradingView
+1

Neutral Scenario (In-line Data Around Expectations)

With NFP numbers close to forecasts, expect sideways movement or technical consolidation, likely within $3,540–$3,578. Traders might prefer range-based strategies.
TradingView
FXStreet

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