Gold Outlook for 2022. US Non-Farm Payrolls in Focus.

Welcome to this week’s Market Blast Fundamentals.

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I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at Gold (XAUUSD), EURUSD, USDCAD and USDJPY.

Firstly, Happy New Year to everyone.  We hope you had a great time over the holidays.

Overall, we are seeing USD weakness against every currency except JPY.

We expect that to change as the year goes on with the US Federal Reserve tapering bond purchasing and raising Interest Rates.

The question is, “When?” and this week’s economic events may give the Fed more data to proceed.

We have employment data tomorrow and Wednesday and the Non-Farm Payrolls on Friday.

We also have employment data and a PMI out of Canada on Friday.

We will look at this again tomorrow as we had a huge CAD rally last week which is already starting to reverse.

We will also be keeping an eye on Gold going into 2022 as the actions by the Fed, that we just mentioned will cause XAUUSD to fall, based on a stronger USD.

Also, bond tapering will cause bond yields to rise which will usually cause the price of Gold to fall.

The same question is, “When?”

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