Forecast Overview Ahead of NFP Release

Forecast Overview Ahead of NFP Release
Bullish Scenario (Weak NFP Data)

Consensus sees NFP adding around 75,000 jobs (slightly higher than July's 73,000), with unemployment likely rising to 4.3% and average hourly earnings cooling to 3.7% year-on-year.
MarketPulse
FXStreet
+1

In this scenario, gold could break above its $3,578–$3,579 record high, potentially rallying toward $3,600 and even $3,879 if bullish momentum intensifies.
FXEmpire
+1
FXStreet

Bearish Scenario (Strong NFP Data)

Should job creation exceed expectations (perhaps above 75,000), gold may face corrections down to $3,450–$3,400.
TradingView
+1

Neutral Scenario (In-line Data Around Expectations)

With NFP numbers close to forecasts, expect sideways movement or technical consolidation, likely within $3,540–$3,578. Traders might prefer range-based strategies.
TradingView
FXStreet