#GOLD
Manufacturing data out of the US exceeded expectations in January, as S&P Global’s final Manufacturing PMI was revised upward to 52.4. Simultaneously, the ISM Manufacturing PMI surged to 52.6, significantly outpacing December’s 47.9 and the anticipated 48.5. This expansionary shift was accompanied by higher inflationary pressures, with the Prices Paid Index climbing to 59, and an improving labor outlook as the Employment Index rose to 48.1.
Investor attention now pivots to a high-stakes week for labor data, culminating in Friday’s Nonfarm Payrolls report. Precursor data, including Tuesday’s JOLTS Job Openings and Wednesday’s ADP survey, will be closely watched. Following a weak January, the US Dollar is seeing renewed demand; if this momentum holds alongside positive sentiment, Gold (XAU/USD) faces a potential technical breakdown.
