Nonfarm payroll data released last Friday is still better than market expectations. This may cause the FED to not cut interest rates as soon as the market expects. This is the factor putting downward pressure on gold prices. This week, investors will monitor US inflation data and the FED meeting in the middle of the week to evaluate the FED's policy roadmap.

Tet is coming soon. Try your best for the meat-filled banh chung 🥰

Gold on the h4 frame breaks the rising price channel, confirming the short-term downtrend
Next week we will watch the main selling
As for where to sell, see you tomorrow morning

🔹Yesterday's market summary:
1. The number of people applying for unemployment benefits in the US increased moderately last week

2. The first and second leaders of the Bank of Japan both expressed a hawkish attitude.

3. Russian Urals crude oil price fell below for the first time

What impact does tonight's NFP report have on market expectations?

1. Possibility of interest rate reduction in March next year (currently over 60%);
2. If data is very bad, cut interest rate in January next year or cut interest rate by 50BP in March next year.
3. If the data is better than expected, gold prices could return to the $2,000 mark. But $2,000 is still a very important support level.