US February Nonfarm Payrolls Preview: Analyzing gold's reaction to NFP surprises by eren_fxstreet $gold $XAU $XAUUSD forex trading
We present our findings as the US Bureau of Labor Statistics gets ready to release the February jobs report on Friday, March 4. Expectations are for a 400,000 rise in Nonfarm Payrolls following the 467,000 increase in December
However, the correlation coefficients we calculated for the different time frames mentioned above don’t even come close to being significant. The strongest negative correlation is seen 15 minutes after the releases with the r standing at -0.5. One hour after the release, the correlation weakens with the r rising to -0.34 and there is virtually no correlation to speak of four hours after the release with the r approaching 0.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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