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Automatic Data Processing Newsroom
Gold prices rose slightly as investors await Friday's non-farm payroll report.
Despite the strong dollar, gold prices rose slightly in early trading as investors sought safe-haven Assets amid increasing market uncertainty. December's ADP employment data in the USA was weaker than expected, providing some support for the Federal Reserve's potential to be less cautious regarding interest rate cuts. However, the Federal Reserve's meeting minutes released on Wednesday showed that officials currently intend to keep interest rates stable, indicating they see risks of inflation being higher than expected, partly due to the uncertainty surrounding President-elect Trump's policies. Paul Ashworth of Capital Economics stated, "The current median interest rate forecast indicates a total cut of only 50 basis points this year."
The central parity rate of the RMB against the US dollar is reported at 7.1886, up by 1 point.
On January 9, the RMB middle rate against the USD was reported at 7.1886, an increase of 1 point. Federal Reserve meeting minutes: many officials believe that caution is needed in the "next few quarters". The Federal Reserve released the minutes of the December monetary policy meeting. The minutes indicate that participants stated if the data performs as expected, it would be appropriate to continue gradually moving toward a more neutral policy stance; the Federal Reserve is at or near the point suitable for slowing the pace of easing; many officials believe that caution is needed in the "next few quarters". The "little non-farm" unexpectedly fell short of expectations! On Wednesday, the ADP employment report, known as the "little non-farm", showed that in December of last year, the USA...
Guotai Futures: USA's non-farm payrolls unexpectedly declined, leading to a slight rebound in gold prices.
On January 8, COMEX Gold fluctuated and rose, closing at $2679.8 per ounce, an increase of 0.28%. Domestically, SHFE Gold fell back at the end of the night session, closing at 628.18 yuan per gram, an increase of 0.19%. Signs of cooling have emerged in the USA job market, with the ADP employment numbers in December increasing by 0.122 million people, marking the lowest growth since August 2024, while wage growth has fallen to the lowest level since July 2021. The number of first-time claims for unemployment benefits in the USA last week was 0.201 million, the lowest since February 2024. After the data was released, US bond yields fell, and the yield on the 10-year US Treasury.
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Fed Meeting Minutes Leave Equities Mixed
US Equities Markets End Mixed Wednesday as Investors Weigh Macro Data, Remarks by Fed Governor
Equities Largely Unchanged After Labor Market Data, Fed Governor Remarks
December Private Job Growth Slows More Than Expected, ADP Data Show
ADP Numbers Lowest Since August; Initial Claims Also Down
Express News | After the release of ADP and initial claims data, the probability of the Federal Reserve maintaining interest rates unchanged in January is 93.1%.
Express News | In December, the USA ADP employment figure increased by 0.122 million people, marking the lowest growth level in four months.
U.S. Hiring Kept Slowing at End of Year as Labor Market Loosens
Express News | "Non-farm payrolls" fell short of expectations, indicating that the trend of labor market weakness will continue.
Express News | After the release of the ADP data, spot Gold and the USD index DXY experienced little short-term fluctuation.
ADP Nonfarm Employment Change Falls Short of Expectations, Indicating Slower Growth
ADP National Employment Report: Private Sector Employment Increased by 122,000 Jobs in December; Annual Pay Was Up 4.6%
German Banks: Sufficient supply and persistent inflation put pressure on the European Bonds market.
Hauke Siemssen, a rate strategist at the research department of Deutsche Bank, stated that the trading volume in the European Bonds market remains high due to "sticky" inflation, evolving supply waves, and resilient data from the USA. Siemssen noted: "Given that the primary market remains busy, and today's upcoming USA ADP and initial jobless claims data seem unlikely to disappoint, it appears that relief for the European bond market is hard to achieve today." Germany will introduce new government bonds maturing in February 2035 at an auction priced at 5 billion euros, while Italy will issue Bonds maturing in 2035.
Express News | Reminder of today's important financial information (the following are all Beijing time)
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Everbright Futures: The dollar's upward trend pauses, and gold prices may find support.
On January 6th, COMEX Gold fluctuated during the day, closing at $2647.0 per ounce, down 0.29%. In the domestic SHFE night market, gold first fell and then rose, closing at 625.06 yuan per gram, down 0.35%. On Monday, Trump's aides were discussing imposing tariffs on "all countries," but only covering key imported commodities. Due to the potential narrowing of Trump's tariff plan, market sentiment strengthened, the dollar fell back, and gold prices rebounded. Subsequently, Trump denied plans to reduce tariff intensity, stating that reports regarding universal tariffs on key imported commodities were incorrect. After a sharp rise in Pre-Market Trading of U.S. stocks, there was a sudden drop, and after a significant fall, the dollar quickly rose, leading to another decline in gold prices.