Kabuki Takaaki "Weekly Gold Market Outlook" May 8, 2023 issue

The President and Chief Executive Officer of Investment Daily, and a master of cycle analysis,

is the writer of the weekly report on gold price outlook authored by Takashi Kabuki

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In the April U.S. employment statistics released last week, both the unemployment rate and nonfarm payrolls (NFP) increased more than market expectations, delivering a surprise. NFP rose by 253,000 from the prior month. The growth significantly exceeded the prior month ( revised +165,000) and market forecasts ( +180,000). The unemployment rate improved to 3.4% from the prior month by 0.1 percentage point. Average hourly earnings rose 0.5% month over month and were up 4.4% year over year, both surpassing market expectations, suggesting the U.S. labor market remains robust.

Under these circumstances, the U.S. 10-year Treasury yield rose by 0.058 percentage points from the previous day, but was almost flat on a week-over-week basis, forming a doji on the weekly chart. The chart still shows around 3.3% as a strong support level. A breakout would signal a strong possibility of future rate declines.

Please see the PDF file for the continuation.

【Takashi Kabuki – Profile】

Graduated from Kwansei Gakuin University, Faculty of Economics. In 1995, partnered with the world-renowned U.S. market analyst Ray Dalio? (note: original says Raymond Mercier Man? likely Ray Dalio) and issued domestic first market cycle and astrology reports. Renowned for cycle and astrology-based market analysis. President and Representative Director of Investment Daily Co., Ltd.; President and Representative Director of Investment Daily Publishing Co., Ltd.; Director of Wakabaya FX Associates Co., Ltd.; Member of the Japan Technical Analysts Association; Editor-in-Chief of Investment Daily Alpha.

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