The non-farm employment report measures the employment situation of all enterprises in the United States, excluding agriculture, local governments, private families and non-profit sectors. Non-farm payrolls report is considered as one of the most comprehensive indicators to measure the health of American economy. Non-agricultural data in the United States come from the Bureau of Labor Statistics of the United States Department of Labor. Usually, the data will be released on Friday night in the first week of each month at 20:30 Beijing time (April-65438+1October) and 2 1:30 winter time:165438+1October-March).

In view of the importance of the US dollar in the world, every data release will trigger market shocks. In foreign exchange analysis, there is a negative correlation between US dollar and non-US dollar currencies and gold. Therefore, a good dollar means a bad non-dollar currency and gold.

Non-agricultural data generally publish three values: employment (net value), unemployment rate and employment rate. The most important things are the number of employed people (net worth) and the unemployment rate.

According to the difference of the three data, every time we consider the market changes, we should consider three items of each data together: the previous value, the expected value and the actual published value. According to the difference between the actual published value and the expected value, the price trend of foreign exchange and gold can be further judged.

Before the release of non-agricultural data, investors should carefully analyze the recently released employment data and exclude those expected data games. As long as the final non-agricultural data maintains the growth momentum, it can be explained that the US job market is still in a state of recovery (since the US job market is in a state of recovery, it should also be combined with the impact of the Fed's interest rate hike and quantitative easing policy. )

Generally speaking, non-agricultural data can have the following four effects on the trend of gold prices.

The first impact: the non-agricultural employment data is greater than the previous value and greater than expected. Be bullish on the dollar and bearish on gold.

The second impact: the non-agricultural employment data is less than the previous value and less than expected. The dollar is bad and gold is bullish.

The third impact: the non-agricultural employment data is smaller than expected, but larger than the previous value. Gold rose first and then fell.

The fourth impact: the non-agricultural employment data is larger than expected, but smaller than the previous value. Gold fell first and then rose.