Wages measured in terms of actual purchasing power Crossword Clue

The post XAU/USD edges lower below $4,000 as private payrolls rebound com. Gold price (XAU/USD) declines to near $3,970 during the Asian trading hours on Thursday. The precious metal edges lower as traders weigh the outlook for the US Federal Reserve (Fed) path after the upbeat US economic data. The Fed officials are scheduled to speak later on Thursday, including Michael Barr, John Williams, Anna Paulson, Beth Hammack, Christopher Waller, and Alberto Musalem. Private sector employment in the US came in stronger than expected, signaling some stabilization in the job market after two straight months of declines. Private-sector payrolls rose by 42, 000 in October, compared to the 29, 000 decrease (revised from -32, 000) seen in September, the Automatic Data Processing (ADP) showed Wednesday. The ADP report is one of the few monthly snapshots of the labor market, as the longest government shutdown in US history delays the release of official economic data. The better US jobs data lifts the US Dollar (USD). A stronger USD makes gold more expensive for foreign buyers, reducing global demand and weighing on the non-yielding yellow metal. Furthermore, hawkish remarks from Fed officials could undermine the yellow metal. After the US central bank cut its interest rates last week for a second consecutive meeting, Fed Chair Jerome Powell said that he sees “very gradual cooling” in the labor market, but nothing more than that.” He made it clear that another reduction at the Fed’s next meeting in December wasn’t certain. On the other hand, the uncertainty and ongoing US federal government shutdown, which is now the longest in history, could boost safe-haven assets like the Gold price. The Senate is not currently set to vote on a House-passed measure to reopen the government on Thursday, after it failed to advance for the 14th time on Tuesday. Gold FAQs Gold has played a key role in human’s history as it has.